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GBTC Discount Narrows After BlackRock’s Filing for Spot Bitcoin ETF

The discount on the Grayscale Bitcoin Trust (GBTC) share price to net asset value narrowed Friday, dropping to a near one-month low a day after investment management giant BlackRock filed for a spot bitcoin exchange-traded fund (ETF). The price of GBTC shares jumped more than 8% over the past 24 hours to near $14, TradingView data shows, outperforming the digital asset the fund holds. Over the same period, bitcoin (BTC) rose 3.5% to $25,800. The discount is currently at around 40%, according to CoinDesk’s calculations. This is the lowest level since mid-May, down from 44% earlier this week.

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