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Analyst: The Sharp Narrowing of the Negative Premium Rate of Grayscale GBTC Indicates That the Possibility of Future ETF Spot Approval in the United States Has Increased Significantly

According to YCharts.com, on Friday the trading price of GBTC was discounted by 26% compared to its net asset value (NAV). On August 14th, this ratio had dropped to just under 24%, a decrease of about 20 percentage points from the approximately 44% discount on June 13th.

Matteo Greco, a research analyst at Fineqia, stated that the significant narrowing of the discount indicates a significantly increased likelihood of approval for ETF spot trading in the US, prompting investors to purchase GBTC at a significant discount in anticipation of the future listing of ETFs. Senior research and policy analyst Chase White of Compass Point Research & Trading predicts that after Grayscale's victory, the discount on GBTC may "significantly narrow," possibly to 10%.

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