News

Grayscale’s GBTC Discount Narrows Further As Judges Grill SEC Argument

The opening day of SEC Vs Grayscale case had arguments centered around how the SEC differentiates futures Bitcoin ETF from spot Bitcoin ETF.
Published by
Grayscale’s GBTC Discount Narrows Further As Judges Grill SEC Argument

Grayscale Bitcoin Trust (GBTC): The attorneys representing the U.S. Securities and Exchange Commission’s (SEC) in the Grayscale lawsuit faced tough questions from the judges. The primary discussion on the opening day of arguments was centered around how the SEC differentiates futures Bitcoin ETF from spot Bitcoin ETF. The case concerns Grayscale’s challenge to the SEC’s rejection of conversion of GBTC into and ETF. Interestingly, the development pushed GBTC share price to its highest level in 2023 so far.

Also Read: Fed Chair Testifies At U.S. Hearing, Says “Can Speed Up Rate Hikes If Needed”

Advertisement

GBTC Discount Closes Further

More importantly, the GBTC discount has narrowed down to around 35% with the renewed energy among traders. According to TradeBlock data, the GBTC discount is currently -37.97%, compared to the -42% discount on Monday. In what could be a sign of confidence in Grayscale‘s case in the lawsuit, the share price was up by around 5% on Monday, in anticipation of positive outcome for the company. Overall, it has been a good start for Grayscale in its pursuit of gaining an approval for the first ever spot Bitcoin ETF. Popular crypto trader The Wolf Of All Streets said it is a good start for Grayscale with GBTC’s rally and the judges’ aggressive questioning of the SEC’s actions.

Also Read: Proposal To Remove Core Dev “Zaradar”; 50B Terra Luna Classic Burn

Meanwhile, the crypto market displayed no signs of volatility, against market expectation, as Fed Chair Jerome Powell delivered a fairly bearish outlook on the interest rates for the months to come. That the Bitcoin price is almost flat compared to 24 hours ago speaks it all.

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Is Changpeng “CZ” Zhao Returning To Binance? Probably Not

Changpeng Zhao, aka CZ, might not return to operations at crypto exchange Binance immediately, he…

October 27, 2025
  • Altcoin News
  • News

XRP News: Ripple-Backed Evernorth Amasses Over $1B in XRP Ahead of Nasdaq Listing

In a major XRP news today, Ripple-backed digital asset treasury firm Evernorth has expanded its…

October 27, 2025
  • Bitcoin News

Crypto Market Rally: BTC, ETH, SOL, DOGE Jump 3-7% as US China Trade Talks Progress

Today's crypto market rally comes on the positive progress in the US-China trade talks, with…

October 27, 2025
  • News

Indian Court Declares XRP as Property in WazirX Hack Case

In a landmark ruling, the Madras High Court in India has declared that XRP and…

October 27, 2025
  • News

Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH

Ethereum’s fundamentals continue to strengthen as major investors and analysts signal renewed confidence in the…

October 27, 2025
  • News

Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000

Bitcoin (BTC) has climbed above $113,000 as optimism grew ahead of President Donald Trump’s meeting…

October 26, 2025