Shares of the Grayscale Bitcoin Trust (GBTC) fund, the world’s largest bitcoin fund, have seen a contraction in discounting to their lowest level in two years, by 7.5%.
This improvement reflects the growing market confidence in Grayscale’s efforts to turn its fund into an instant Bitcoin Investment Fund.
According to Mr. “Eric Balchunas” ETF funds analyst at Bloomberg, the ratio of GBTC discount to net asset value has shrunk to 8.6%.
The discount is an indicator of the difference between the market capitalization of GBTC shares and the total value of bitcoin held by Grayscale.
