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GBTC Discount Sinks to Lowest Level in 18 Months as Grayscale Falls Behind in ETF Fee Race

The discount on the Grayscale Bitcoin Trust (GBTC) has reached its lowest level since April 2021 as expectations of a conversion to a spot bitcoin ETF increase.
The discount on GBTC has steadily narrowed as a result of expectations of an ETF approval and rising bitcoin sentiment.

Fresh Bitcoin Hype Shows Crypto Just Can't Help Itself

Investment firms are planning to launch spot bitcoin ETFs in the US, allowing investors to hold bitcoin through conventional financial products.
The potential approval of a spot bitcoin ETF by the SEC is seen as a sign of the crypto industry's maturation.
Speculation around the price of bitcoin is high, with some predicting that an ETF will cause a surge in its value.
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