According to a blog post by Grayscale, in ETF form, GBTC's stock is expected to track Bitcoin's price more closely, which means any premium or discount in GBTC's stock price is expected to disappear. As of November 29, 2023, GBTC's assets under management were $23.4 billion, with a discount of 8.09%, or $1.89 billion. This means that assuming the current discount disappears, GBTC will release approximately $1.89 billion in value to investors through arbitrage mechanisms once it is listed on NYSE Arca and becomes an ETF.
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Grayscale: After GBTC becomes an ETF and is listed, it will release approximately US$1.89 billion in value
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