A Year of Growth for Grayscale: GBTC sees 96% surge

Quick Take

The recent announcement of BlackRock’s intention to launch a spot Exchange-Traded Fund (ETF) has stirred up debate among cryptocurrency enthusiasts.

Previously in March, Grayscale had expressed apprehension regarding the transformation of GBTC into an ETF. The firm’s attempt to establish its own ETF was unsuccessful, leading to a pending decision by Washington D.C. officials regarding Grayscale’s standing with the Securities and Exchange Commission (SEC). According to K33 Research, this decision is expected between June and November.

In terms of performance, GBTC has seen a substantial increase of 96% in value since the beginning of the year, with the discount to its Net Asset Value (NAV) steadily closing in at 37%.

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