Coinbry

  • Market Cap: $2,467,784,656,242.82
  • 24h Vol: $148,817,692,287.46
  • BTC Dominance: 52.29%
GBTC's 'discount' reaches its lowest level since 2021, despite BTC price dropping to its lowest in 3 months.

GBTC’s ‘discount’ reaches its lowest level since 2021, despite BTC price dropping to its lowest in 3 months.

The Grayscale Bitcoin Trust (GBTC) is closing in on price parity with Bitcoin (BTC), with GBTC shares trading at just 17% below the BTC price. This marks a significant improvement for GBTC, which has been facing challenges in its bid to become a spot exchange-traded fund (ETF). The U.S. Securities and Exchange Commission has yet to approve a spot ETF application, but Grayscale recently won a legal battle with the SEC, providing a boost to GBTC’s price performance. Despite this positive development for GBTC, BTC price continues to face downward pressure, with September historically being a weak month for BTC/USD. However, some analysts believe that October could bring a bullish trend for Bitcoin.

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