{"id":83885,"date":"2023-11-13T06:31:49","date_gmt":"2023-11-13T11:31:49","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/grayscale-bitcoin-trust-discount-shrinks-to-10-35-as-etf-hype-persists\/"},"modified":"2023-11-13T06:31:51","modified_gmt":"2023-11-13T11:31:51","slug":"grayscale-bitcoin-trust-discount-shrinks-to-10-35-as-etf-hype-persists","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=83885","title":{"rendered":"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists"},"content":{"rendered":"<div>\n<figure id=\"attachment_130336\" aria-describedby=\"caption-attachment-130336\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-130336\" class=\"wp-caption-text\">Source: Adobe\/Ascannio<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July 2021.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to data from YCharts, the discount on GBTC compared to its net asset value currently\u00a0<\/span><span data-preserver-spaces=\"true\">stands at 10.35%<\/span><span data-preserver-spaces=\"true\">, marking a significant reduction from the record discount of nearly 50% during the crypto winter induced by FTX in December of the previous year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The shrinking discount comes amid reports that the US Securities and Exchange Commission (SEC) has\u00a0<\/span><span data-preserver-spaces=\"true\">engaged in discussions with Grayscale<\/span><span data-preserver-spaces=\"true\">\u00a0Investments regarding the conversion of the trust into a spot Bitcoin ETF.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">If successful, this move would generate significant market momentum and liquidity.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">GBTC is a publicly traded investment vehicle operated by Grayscale Investments, a subsidiary of Digital Currency Group.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">GBTC was created to provide investors with exposure to Bitcoin without actually needing to buy and hold the cryptocurrency themselves.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">One notable characteristic of GBTC is that its shares often trade at a premium or discount to the net asset value (NAV) of the Bitcoin it holds.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The premium or discount is influenced by supply and demand dynamics in the market.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">When demand for GBTC shares is high, the price can trade at a premium to the NAV, and when demand is low, it can trade at a discount.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Investor enthusiasm surrounding the potential approval of a spot Bitcoin ETF in the US has contributed to an all-time high in Bitcoin fund holdings, with total inflows surpassing $1 billion this year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last week, market sentiment received an additional boost when BlackRock, a giant in fund management,\u00a0<\/span><span data-preserver-spaces=\"true\">announced its plans<\/span><span data-preserver-spaces=\"true\">\u00a0to launch an Ether-based ETF.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The news propelled Ether to a seven-month high, outperforming Bitcoin.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In addition to the ETF hype, trading activity on decentralized exchanges (DEXs) has reached a six-month high.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Traders are reallocating their investments from altcoins into Ether in anticipation of potential ETF approvals.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Institutional Investors Are Coming to Crypto<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">As\u00a0<\/span><span data-preserver-spaces=\"true\">reported<\/span><span data-preserver-spaces=\"true\">, the regulated derivatives marketplace\u00a0<\/span><strong><span data-preserver-spaces=\"true\">Chicago Mercantile Exchange (CME)<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0has dethroned\u00a0<\/span><strong><span data-preserver-spaces=\"true\">Binance<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0as the largest\u00a0<\/span><span data-preserver-spaces=\"true\">Bitcoin ( BTC)<\/span><span data-preserver-spaces=\"true\">\u00a0futures exchange.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The shift marks the first time in two years that CME has claimed the top spot.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">CME\u2019s gradual ascent to the top position throughout this year underscores the growing demand from institutional market participants seeking to trade the largest and most established cryptocurrency.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Furthermore, the cryptocurrency market continues to pull strings of outsized inflows in recent weeks as investors set sights on spot ETFs.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Last week, digital asset investment products\u00a0<\/span><span data-preserver-spaces=\"true\">had $261 million in inflows<\/span><span data-preserver-spaces=\"true\">, representing the sixth consecutive week of inflows for a total of $767 million, surpassing the total inflows of $736 million seen in 2022.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThis run of inflows now matches the July 2023 run of inflows and is the largest since the end of the bull market in December 2021,\u201d said James Butterfill, head of research at CoinShares.<\/span><\/p>\n<p>\u00a0<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/grayscale-bitcoin-trust-discount-shrinks-to-10-35-as-etf-hype-persists.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe\/Ascannio The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July 2021. According to data from YCharts, the discount on GBTC compared to its net asset value currently\u00a0stands at 10.35%, marking a significant reduction from the record discount of nearly 50% during the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":83886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-83885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Adobe\/Ascannio The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=83885\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Source: Adobe\/Ascannio The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=83885\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-13T11:31:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-13T11:31:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1699874583-dc8c26531f___media_library_original_900_600.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=83885#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=83885\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists\",\"datePublished\":\"2023-11-13T11:31:49+00:00\",\"dateModified\":\"2023-11-13T11:31:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=83885\"},\"wordCount\":495,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=83885#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=83885\",\"url\":\"https:\/\/ifintechworld.com\/?p=83885\",\"name\":\"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-11-13T11:31:49+00:00\",\"dateModified\":\"2023-11-13T11:31:51+00:00\",\"description\":\"Source: Adobe\/Ascannio The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=83885#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=83885\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=83885#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists | iFintechWorld","description":"Source: Adobe\/Ascannio The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=83885","og_locale":"en_US","og_type":"article","og_title":"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists | iFintechWorld","og_description":"Source: Adobe\/Ascannio The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July","og_url":"https:\/\/ifintechworld.com\/?p=83885","og_site_name":"iFintechWorld","article_published_time":"2023-11-13T11:31:49+00:00","article_modified_time":"2023-11-13T11:31:51+00:00","og_image":[{"width":900,"height":600,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/11\/1699874583-dc8c26531f___media_library_original_900_600.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=83885#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=83885"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists","datePublished":"2023-11-13T11:31:49+00:00","dateModified":"2023-11-13T11:31:51+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=83885"},"wordCount":495,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=83885#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=83885","url":"https:\/\/ifintechworld.com\/?p=83885","name":"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-11-13T11:31:49+00:00","dateModified":"2023-11-13T11:31:51+00:00","description":"Source: Adobe\/Ascannio The hype surrounding ETFs has helped narrow the discount on the Grayscale Bitcoin Trust (GBTC) to its lowest levels since July","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=83885#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=83885"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=83885#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Grayscale Bitcoin Trust Discount Shrinks to 10.35% as ETF Hype Persists"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/83885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83885"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/83885\/revisions"}],"predecessor-version":[{"id":83887,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/83885\/revisions\/83887"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/83886"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}