Grayscale's premier fund traded higher as its discount narrowed following what some perceived as a successful day in court. Crypto prices slipped across the board, and crypto-related equities also dipped.

Shares in the Grayscale Bitcoin Trust rose 4% by 10:30 a.m. EST, according to TradingView data. GBTC's discount to net asset value was 35.7%, following oral arguments in its trial against the SEC. The bitcoin fund has been trading at a discount since early 2021, meaning shares in the fund are cheaper than the underlying bitcoin. The discount has narrowed to its lowest level since October. 

The positive moves in GBTC come despite a downward trend in crypto markets. Bitcoin was trading at $22,100, down 0.4%. Ether slipped 0.26% to around $1,550.