TechFlow, on August 22, according to YCharts.com, GBTC traded at a 26% discount to its net asset value (NAV) on Friday. On August 14, this discount had already dropped below 24%, down approximately 20 percentage points from around 44% on June 13.
Matteo Greco, research analyst at Fineqia, said: "The significant narrowing indicates a substantially increased likelihood of future approval for spot ETFs in the U.S., prompting investors to buy GBTC at steep discounts in anticipation that such ETFs will eventually launch."
Chase White, senior research and policy analyst at Compass Point Research & Trading, expects that following Grayscale's victory, GBTC's discount could "narrow significantly," potentially shrinking to 10%.
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