Bitcoin (BTC) is trading above $19K after hitting weekend lows on fears of a recession as borrowing costs continue to rise. LedesmaLyllah reports in First Mover by CoinDesk Markets
is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements.The so-called Grayscale discount has sunk to a record low.
The Grayscale Bitcoin Trust discount, a key crypto market metric, has sunk to a record low as institutional interest in Greyscale wanes. The trust, often referred to by its stock-trading symbol GBTC, is a type of investment vehicle that allows U.S. investors to gain exposure to price movements of BTC.compared with the value of its underlying assets. GBTC began trading at a discount after the first North American bitcoin exchange-traded fund in Canada in February 2021 launched.
Grayscale, whose parent company Digital Currency Group owns CoinDesk, attempted to convert its fund into an ETF in June 2021, but the U.S. Securities and Exchange Commission
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