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GBTC converting to a less expensive ETF didn’t save BTC, but it certainly doesn’t hurt

[GBTC discount ](https://www.coindesk.com/grayscale-etf-gbtc-discount)

I don’t know about you, but I’ve been watching the GBTC discount grow with some discomfort lately. If they didn’t decide to convert to an ETF their 37 billion of market cap could’ve had a bleed out that could’ve been a catalyst for some serious short-term pain for the entire crypto market.

But now, all is well. I wouldn’t be surprised if this pressure released from the market pushes us up past 65k this week. Live well fellow hodlers 🖖



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  1. I’m glad they stated their intent but as others have said, this all rests in the hands of regulators.

    Best case scenario = multiple BTC ETFs are approved and they can compete with each other for lowest fees, etc while also driving up the price of spot BTC

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