GBTC shares rose by 57% after BlackRock's statement on bitcoin-ETF

After BlackRock applied to launch a bitcoin ETF, shares of GBTC, which Grayscale owns, soared by 57%. At the same time, the discount to the value of net assets fell from 41.7% to almost 29%.

What the statistics show

Over the past year, bitcoin has risen in its quotes by 21%. At the moment, it is trading at approximately $ 30.5 thousand per coin, when in 2022 its price was around $ 25 thousand. As a result, bitcoin-trust shares rose to almost $20.5 against $13.

An analyst at The Block reported that the market is awaiting approval of BlackRock's statement. This was the reason for waiting for the Grayscale initiative to be satisfied with the transfer of bitcoin-trust shares to an exchange-traded fund.

In addition to the financial giant, such applications were sent by other similar companies, for example, Valkyrie and others. However, the regulator prefers Ark Investments and 21Shares, since they sent requests first.

The SEC office criticized the applications, as they did not contain detailed details on the joint surveillance agreement. Recently it became known that the companies corrected them and submitted them again. 

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