Grayscale Bitcoin Trust aims for ETF shift to narrow discount

This move seeks to better synchronize GBTC’s shares with the real Bitcoin price and introduce a streamlined mechanism for investors to create or redeem shares effortlessly.

Grayscale, a significant player in digital asset management, has expressed enthusiasm about the potential transformation of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF.

The company’s chief legal officer, Craig Salm and chief financial officer, Edward McGee, revealed the details.

ETF analyst Eric Balchunas from Bloomberg observed the notable dependence on Regulation M (Reg M) relief.

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With Bitcoin (BTC) currently priced at $39,481 and a surge in trading volume indicating heightened trader interest, the prospect of a spot Bitcoin ETF ensures investors a more precise representation of Bitcoin’s value through GBTC and establishes a safer avenue for institutional investors to engage with Bitcoin.

In a Nov. 28 X (formerly Twitter) post, Bloomberg ETF analyst James Seyffart said the SEC delayed its decision on the applications 34 days earlier than the Jan. Seyffart and his colleague Eric Balchunas had placed 90% odds on spot Bitcoin ETF approvals by Jan.

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