Bitcoin ETF fever returns: ‘Biggest’ inflow to ProShares’ BITO in a year
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The resurgence in ETF trading and the resultant BTC price pump has also been good news for the world’s largest crypto asset manager, Grayscale. The Grayscale Bitcoin Trust (GBTC), which has been trading at a massive discount to spot BTC prices for months, is heading in the right direction as that gap diminishes.
According to Coinglass, the Grayscale premium, also known as its discount, is -31.2%. It fell as low as -49% in December.
Related: Volatility Shares Trust aims for listing of leveraged Bitcoin futures ETF
It remains unclear if the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF, but the race is now on as a new wave of filings has followed BlackRock’s.
WisdomTree, for the third time, filed with the SEC to create a spot Bitcoin ETF, just hours later Invesco renewed its application for a similar product.
On June 25, ETF Store President Nate Geraci tweeted his list of ETF issuers that he “would keep an eye on” as he believes they will file or refile for a spot Bitcoin ETF based on past filings. Geraci named First Trust, VanEck, Global X, Fidelity, and what he called the “dark horse,” Schwab.
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