Grayscale's GBTC Could Be a "Great Trade" Following BlackRock's Bitcoin ETF Filing

June 27 (Cointime) - The news of BlackRock filing for a bitcoin ETF has generated excitement in the crypto market, with some calling it the start of a new "crypto summer." GoldenTree's head of digital asset trading, Avi Felman, believes that Grayscale's GBTC shares could benefit the most from this development.

GBTC currently trades at a 33% discount to its underlying bitcoin assets, but if it were to be turned into an ETF like BlackRock, it could be a great trade. However, Cumberland's Global Head of Trading, Jonah Van Bourg, warns against banking on the discount and suggests that Grayscale might be better off buying their own shares back at a deep discount if a BlackRock ETF is approved.

BlackRock Bitcoin ETF Grayscale

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Cointime July 27th News Express

1. As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.
As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.

BlackRock's official update on the Bitcoin ETF shows that as of July 25th, the market value of IBIT has reached $21,890,121,436.41, and the position has increased to 338,128.5551 BTC, an increase of 1,092.7881 BTC from the previous trading day.
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1. BlackRock IBIT saw a total net inflow of $705 million this week
BlackRock IBIT saw a total net inflow of $705 million this week

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Grayscale's GBTC Could Be a "Great Trade" Following BlackRock's Bitcoin ETF Filing

All Comments

Recommended for you

Real Vision founder: I agree with Michael Saylor's view that BTC will become the base layer of multiple assets

MN Trading founder: Still satisfied with the decision to invest in altcoins, focusing on long-term investment

Placeholder Partner: Narrow investor attitudes swing based on the performance of the tokens they hold. To avoid this problem, you need to go long on high-quality tokens

China and Peru agreed to strengthen cooperation in the digital economy and other fields and promote the development of exponential technologies such as AI and blockchain

CryptoQuant founder: Meme coins currently dominate because most altcoins lack fundamental narratives

Court agrees to suspend appeal in Trump's classified documents case

Cointime July 27th News Express

As of July 25, BlackRock IBIT held more than 338,000 bitcoins, an increase of more than 1,092 bitcoins from the previous day.

Cointime July 20th News Express

BlackRock IBIT saw a total net inflow of $705 million this week

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