GBTC premium nears 2022 high as SEC faces call to approve Bitcoin ETF 'people really want'

A Bitcoin spot ETF may still not be legal in the U.S., but the GBTC premium is still looking up.

Data from on-chain monitoring resourceGrayscale CEO:"'If' not 'when'" for U.S. Bitcoin spot ETFBitcoin’s descent from November’s all-time highs added to an already negative “premium” on GBTC, meaning that its share price in fact traded at a discount to the Bitcoin spot price. That discount hit its deepest ever in January, when the GBTC premium nearly hit -30%.

Since then, a reversal has been underway, and as of Thursday, the premium is -21.4% — near its smallest for 2022.

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