Last year Grayscale applied to the U.S. Securities and Exchange Commission (SEC) to convert GBTC into a spot exchange-traded fund. Many analysts are skeptical the SEC will approve the conversion anytime soon, though some traders have bought GBTC as a way of betting on the prospect of the SEC’s nod; in that sense, a wider discount signals dimming optimism for such an approval.
Related posts
-
Bitcoin Sentiment Enters Danger Zone: Investors Now Extremely Greedy
Data shows the Bitcoin investor sentiment has entered extreme greed territory following the asset’s surge to... -
Bitcoin remains ‘niche phenomenon,’ Swiss central bank says
Despite the substantial growth of crypto prices in recent years, Switzerland remains wary of virtual currencies,... -
Block Inc. shifts focus to Bitcoin mining amid plans to sunset Web5-focused TBD
Jack Dorsey founded payments firm Block Inc. is pivoting its focus towards the cryptocurrency mining sector....