Crypto-friendly investment and asset management company Grayscale won its lawsuit against the SEC the other day. The court ruled that the Securities and Exchange Commission SEC arbitrarily rejected spot Bitcoin ETF applications. After the news, futures BTC funds that are currently traded are moving upwards.
The Grayscale Bitcoin Trust (GBTC), traded in the market, closed the session at $20.57, gaining 16% in the past day.
The discount rate of the fund, which has been traded at a cheaper price than the spot Bitcoin price since the first days of its listing, has dropped to the lowest level in the last period. According to data from crypto tracker Coinglass, the GBTC fund’s discount rate is at its lowest level since December 2021. GBTC is still 18.06% cheaper compared to the BTC price on the spot market.
The asset manager has about 623,000 Bitcoins. The market value of the said figure was recorded as $ 17.16 billion.
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