Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Markuri33 on July 01, 2022, 02:04:26 AM
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The discount disparity has since recovered slightly, but only due to Bitcoin's falling price.Shares of the Grayscale Bitcoin Trust were trading at an unprecedented discount of 35% following the Securities and Exchange Commission’s rejection of its application to transition into a spot market Bitcoin ETF.
The circumstance is ironic, given that the existing discount was one of Grayscale’s primary arguments for why the transition needed to take place. Last month, the company held a private meeting with the SEC, according to a CNBC report, in which it argued that converting its Bitcoin Trust (which trades as GBTC) to an ETF could potentially unlock $8 billion for investors by eliminating the discrepancy.more (https://decrypt.co/104194/grayscale-bitcoin-trust-discount-btc-price-etf-denial)