Shrinking Gap Between Bitcoin and GBTC Shares Following SEC's ETF Decision Raises Investment Stakes

Shrinking Gap Between Bitcoin and GBTC Shares Following SEC's ETF Decision Raises Investment Stakes



The difference between the value of Bitcoin and GBTC shares has lessened following the SEC's denial of Grayscale's request to transform its trust into an ETF. Over the past year, many investors reportedly gained from the expectation that the SEC would approve a product directly linked to Bitcoin's value.



After a U.S. Court of Appeals directed the SEC to reevaluate its initial refusal of Grayscale Bitcoin Trust's (GBTC) ETF conversion application, the discount between GBTC shares and the actual value of Bitcoin decreased to roughly 17%, as stated by the Wall Street Journal.



Managing $16.1 billion in assets, GBTC offers investors a chance to invest in Bitcoin through financial security. Each share equates to ownership of a small portion of a Bitcoin, specifically 0.00090040 of a full coin, initially priced at $24.49.



Analysts


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#Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #ETF, #News, #SEC

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