COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Grayscale Bitcoin Trust (GBTC) Lowers the Critical Metric to the Lowest Levels of the Year
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Bitcoin (BTC) > Grayscale Bitcoin Trust (GBTC) Lowers the Critical Metric to the Lowest Levels of the Year
Bitcoin (BTC)

Grayscale Bitcoin Trust (GBTC) Lowers the Critical Metric to the Lowest Levels of the Year

In Brief

  • According to the digital asset data provider CCData, Grayscale Bitcoin Trust (GBTC), the world’s largest Bitcoin (BTC) fund, has lowered the discount on its net asset value (NAV) to nearly the lowest level in two years.ContentsCritical Metric in BitcoinSEC Move on BTC! Critical Metric in Bitcoin Recent data shows that the discount on the $15 […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

According to the digital asset data provider CCData, Grayscale Bitcoin Trust (GBTC), the world’s largest Bitcoin (BTC) fund, has lowered the discount on its net asset value (NAV) to nearly the lowest level in two years.

Contents
Critical Metric in BitcoinSEC Move on BTC!

Critical Metric in Bitcoin

Recent data shows that the discount on the $15 billion market cap product’s NAV reached its lowest level since December 2021, with a decline of 14.8% in October. This could be a significant development from the beginning of the year. A decline in a fund’s NAV essentially means that the fund’s shares are trading at a lower price than the actual value of the tokens held by the fund.

In general, a narrowing discount can indicate that investors have a more optimistic view of GBTC. As mentioned, the decline in NAV reached around 50% at the end of last year and spent most of the first half of 2023 in a range of around 40%. However, there has been a noticeable change in sentiment in the last quarter.

A series of positive developments surrounding Grayscale Investments’ conversion proposal to a spot Bitcoin ETF could explain this turnaround. Unlike leveraged products that occasionally deviate from the value of underlying assets, a spot ETF keeps the value of the fund aligned with the token value.

SEC Move on BTC!

The US Securities and Exchange Commission (SEC) rejected the application last year, claiming that it did not comply with investor protection standards. Following this, Grayscale filed an appeal requesting a review of the regulator’s decision.

A court ruling in early August was in line with Grayscale’s claims and instructed the SEC to review its decision. This decision increased hopes for a future conversion while also creating a divide between GBTC and NAV. As a result, Grayscale Bitcoin Trust (GBTC) has lowered its discount to the lowest level in resistance to the decline in underlying tokens. This resistance, associated with hopes for the conversion to a spot Bitcoin ETF, indicates a positive sentiment among investors. Grayscale’s request for a review of the regulator’s decision and the court ruling could be decisive for the future of GBTC.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Trump’s Maneuvers Shake Markets and Spur Crypto Turbulence

U.S. Dominates Bitcoin Scene in Digital Power Struggle

Bitcoin Soars to New Heights with Potential for Further Surges

Bitcoin’s Meteoric Rise: Institutional Demand Ignites Record Highs

Bitcoin Breaks Records While Companies Rush to Acquire More

COINTURK NEWS 18 October, 2023 - 10:43 pm 18 October, 2023 - 10:43 pm
Share This Article
Facebook Twitter
Share
Previous Article Promising Future for Bitcoin: MicroStrategy Buys Another $1 Billion Worth of BTC
Next Article Ripple (XRP) Price Analysis: Will the Price Reach These Levels in a Few Days?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Peter Schiff Criticizes the Boom of Stablecoin Usage in the US
Cryptocurrency News
Arthur Hayes Predicts HYPE Token Powerhouse Rise Above Solana
Altcoin News
VanEck Challenges SEC’s Delays on Bitcoin ETF Decisions
Cryptocurrency Law
Tesla Holds $1.25 Billion in Bitcoin: Inside Their Bold Crypto Strategy
Bitcoin News Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?