"It looks like GBTC investors who over the past year had been buying the GBTC fund at a significant discount to NAV to position for its eventual ETF conversion, have been taking full profit post-ETF conversion by exiting the bitcoin space entirely rather than shifting to cheaper spot bitcoin ETFs," analysts wrote.
ETH could be poised to soar in 2024 on the back of hopes of a spot ETH ETF listing, analysts at Coinbase have said.
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