GBTC charges forward, 33% discount marks narrowest gap in over a year Quick Take
- The Grayscale Bitcoin Trust (GBTC) discount to NAV continues its contraction, currently standing at -33%. This represents the narrowest it has been for over a year, reflecting a potentially encouraging trend.
- GBTC has shown notable strength, rising 137% year-to-date. Notably, it has surged 50% since June 16th, a significant uptick coinciding with the initial filings for the BlackRock ETF.
- The BlackRock ETF filing has subsequently seen a wave of institutional filings, further stirring the market dynamics.
- Barry Silbert, the founder of Digital Currency Group (DCG), the parent company of Grayscale, finds himself in a comfortable position, consistently collecting his 2% management fees on the Bitcoin held within the fund.
- According to K33 research, “D.C. opinion” on the ongoing lawsuit between Grayscale vs. SEC will likely come between June and November this year.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Barry Silbert, recognized as a foundational figure in the cryptocurrency landscape, serves as the CEO and founder of Digital Currency Group (DCG).
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.