Grayscale News

Craig Salm said GBTC conversion to a spot BTC ETF will "effectively close the current discount to NAV and unlock over $4 billion of value."

Nearly all Grayscale funds have been trading at high discount rates.

Grayscale Investment CEO Michael Sonnenshein has informed GBTC shareholders that the firm could offer to buy back up to 20% of the outstanding shares worth approximately $10.7 billion,

Crypto analyst Willy Woo said selling GBTC is bullish for Bitcoin's price, as it leads to buying spot BTC.

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Grayscale holds over 635,000 BTC worth over $10 billion and 3.1 million Ethereum, valued at $3.7 billion.

The advocacy groups said the SEC's refusal to approve a spot Bitcoin ETF limits American investors' choice, which is a violation of the Administrative Procedures Act.

Grayscale Investments open legal action against the SEC, arguing that it is discriminatory to allow Bitcoin Futures ETFs but not a spot ETF.