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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.

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