Grayscale GBTC discount falls to 16% as markets bet on Bitcoin ETF approval
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Grayscale’s Bitcoin investment vehicle, Grayscale Bitcoin Trust (GBTC) is trading at its lowest discount in nearly two years, as spot Bitcoin ETFs continue to inch toward potential approval in the United States.
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On Oct. 15, Grayscale reportedly delivered a statement noting that the SEC’s 45-day period to seek a rehearing had passed, meaning the court would issue its “final mandate” within seven calendar days.
“The Grayscale team remains operationally ready to convert GBTC to an ETF upon the SEC’s approval, and we look forward to sharing more information as soon as practicable,” the company reportedly said.
NEW: Statement from @Grayscale on the @SECGov’s decision to not seek a rehearing:
“The Federal Rules of Appellate Procedure’s 45-day period to seek rehearing has now passed. The Court will now issue its final mandate within seven calendar days. The Grayscale team remains…
— Eleanor Terrett (@EleanorTerrett) October 15, 2023
Cointelegraph reached out to Grayscale for comment but did not receive an immediate response.
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