Grayscale has won a victory in its lawsuit against the SEC today.
The Bitcoin Trust discount followed the company’s victory over the SEC. Grayscale’s legal dispute with the Securities and Exchange Commission (SEC) narrowed after its victory.
Grayscale Bitcoin Trust discount has decreased
Grayscale was the legal victor in a lawsuit filed against the US Securities and Exchange Commission. After the legal victory, the Grayscale Bitcoin Trust discount dropped to 17 percent from the previous 25 percent. This discount reflects the difference between the market value of GBTC shares and the value of the underlying Bitcoin in the trust. Shares are currently trading at a discount as they are not redeemable, so investors have the option to share the shares with other potential buyers.
This reduction in Grayscale’s Bitcoin Trust fund was around 50 percent in December 2022, but gradually decreased over the following months. However, even in June 2023, this rate was still around 45 percent. But with the latest developments today, that rate had dropped to 25 percent in the last few weeks. Eventually, with the legal victory, this rate dropped to 17 percent.
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