June 18 (Cointime) - BlackRock's plans to launch a Bitcoin spot price exchange-traded fund (ETF) have caused a rally in the Grayscale Bitcoin Trust (GBTC), with the discount on GBTC share prices currently at -36.6%.

Some experts believe that if BlackRock's ETF is approved, GBTC will benefit greatly, with its discount resolving on top of industry growth. However, the BlackRock move is already shrouded in controversy, with market commentators debating whether it is actually an ETF or simply a similar Trust to GBTC. Hedge fund North Rock Digital has been accumulating more of the Grayscale trusts consistently over the last several weeks, while ARK Invest continues to hold around 5.37 million GBTC shares.