TechFlow news, according to CoinDesk, as of last Friday, Grayscale's GBTC discount rate had narrowed to 15.87%, reaching the lowest level since late 2021. Since hitting a record low of nearly 50% during the peak of the bear market in December last year, GBTC's discount has been steadily shrinking.
The SEC could still raise new grounds to reject Grayscale's application to convert its trust into an ETF or request an en banc appeal. However, given that the regulator has been actively engaging with other spot ETF applicants, this possibility appears low.
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