Grayscale SEC win brings spot GBTC ETF approval a step closer

Grayscale has won a victory in its case against the SEC, with the judge ruling previous denials of GBTC ETF conversion were “arbitrary.”
Grayscale has won a victory in its case against the SEC, with the judge ruling previous denials of GBTC ETF conversion were “arbitrary.”
Usually trading way above bitcoin’s spot price since 2015, Grayscale’s Bitcoin Trust is currently at a -35% discount to its Net Asset Value.
BlockFi says it no longer invests in GBTC as a corporation at all and is merely working on settling some loans that used GBTC as collateral.
Greyscale’s lawsuit escalates the GBTC crisis, blaming the SEC for the ongoing NAV discount — but is it really as simple as that?