CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Analysis

GBTC discount narrows to 33% amid buyout rumors, revived spot Bitcoin ETF interest

21.06.2023
A A
0
132
VIEWS
ShareShare

Grayscale’s Bitcoin Trust (GBTC) shares rose 11% on June 20 to $16.85 and narrowed the discount to its net asset value (NAV) to 33.45%—its highest point since the beginning of the year, according to YCharts data.

GBTC Shares
Source: Ycharts

Wu Blockchain, citing CryptoQuant data, reported that the increase coincided with a record-high trading volume of $10.24 million—the highest since November 22, 2022.

On the year-to-date metrics, a CryptoSlate Insight reported that GBTC has increased by 96%.

BlackRock’s ETF application fuels interest in GBTC

The renewed optimism surrounding GBTC shares has been linked to BlackRock’s application for a Bitcoin spot ETF. Wu pointed out that news of BlackRock’s application has helped GBTC shares to rally by more than 25%.

Unconfirmed rumors also suggested that Fidelity Investment was considering a buyout of Grayscale. Fidelity is the world’s third-largest asset manager, with $4.24 trillion under management.

A partner at Syz Capital, Richard Byworth, stated that a Fidelity offer for GBTC would “likely see the discount correct to zero rapidly.”

Grayscale’s effort to convert GBTC into an ETF

Like several other companies, Grayscale has filed for the establishment of a spot Bitcoin ETF for several years but was repeatedly turned down by the U.S. Securities and Exchange Commission.

According to the Commission, these applications failed because they could not comply with certain sections of the Securities Exchange Act and were not designed to prevent fraud and market manipulation or protect investors and public interests.

However, these repeated rejections led Grayscale to file a lawsuit against the SEC, arguing that a spot ETF was not different from a futures ETF—which the SEC had previously approved. According to Grayscale, both spot and futures ETFs rely on Bitcoin’s price and thus carry the same levels of risk regardless of where they are traded.

The post GBTC discount narrows to 33% amid buyout rumors, revived spot Bitcoin ETF interest appeared first on CryptoSlate.

Share10Tweet6ShareSharePin2

Related Posts

XRP Ledger logs 34% in RWA monthly growth, eyes bigger boost from Mercado Bitcoin partnership
Analysis

XRP Ledger logs 34% in RWA monthly growth, eyes bigger boost from Mercado Bitcoin partnership

04.07.2025
0

XRP Ledger posted the second-largest 30-day increase in tokenized real-world assets (RWA), adding 34.6% to reach $157.4 million, data from...

Read moreDetails
Dormant Bitcoin holder moves $2 billion BTC from 2011 for potential 14,000,000% gain

Dormant Bitcoin holder moves $2 billion BTC from 2011 for potential 14,000,000% gain

04.07.2025
Why a handful of altcoins are surging over 30% as Bitcoin trends sideways

Why a handful of altcoins are surging over 30% as Bitcoin trends sideways

04.07.2025
Polymarket bettors forecast 75% chance Bitcoin reaches $120k in 2025 as prediction volume jumps 30%

Polymarket bettors forecast 75% chance Bitcoin reaches $120k in 2025 as prediction volume jumps 30%

04.07.2025
MARA’s $5.4B Bitcoin treasury grows to 50k BTC as miners adopt a HODL strategy

MARA’s $5.4B Bitcoin treasury grows to 50k BTC as miners adopt a HODL strategy

04.07.2025
Load More
Next Post
U.S. Government Transfers 1,500 BTC, Igniting Market Speculation

U.S. Government Transfers 1,500 BTC, Igniting Market Speculation

5 1 vote
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

The CEO of Avalanche-based Web3 Social Platform Stars Arena Steps Down

2 years ago
Bitcoin at Threat? Weak Demand for US Bonds Raises Alarm Bells

Bitcoin at Threat? Weak Demand for US Bonds Raises Alarm Bells

5 months ago
Should You Invest in Solana Now? Latest Price Analysis

Should You Invest in Solana Now? Latest Price Analysis

11 months ago
Bitget Pockets Introduces 2025 Technique with ‘PayFi’ on the Core

Bitget Pockets Introduces 2025 Technique with ‘PayFi’ on the Core

5 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

Mercado Bitcoin to Tokenize $200 Million in Financial Assets on XRP Ledger

Why Is Crypto Up Today? – July 7, 2025

UK’s Smarter Web Company Acquires $24M Worth of Bitcoin, Holdings Reach 1,000 BTC

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years

Trending

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?
All news

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

07.07.2025
0

The Pepe price has risen by 3.5% in the past 24 hours, with its move to $0.00001007...

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

07.07.2025
Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

07.07.2025
Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

07.07.2025
Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

07.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz