GBTC delivered better returns than Bitcoin ETFs last week

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Grayscale's flagship Bitcoin money had nary contention from the newly-launched ETF products successful their archetypal 7 days, figures show.

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GBTC delivered amended  returns than Bitcoin ETFs past  week

Bitcoin (BTC) concern conveyance the Grayscale Bitcoin Trust (GBTC) outperformed the newly-launched exchange-traded funds (ETFs) past week, information shows.

Figures shared by Grayscale executives among others corroborate that GBTC softly delivered amended capitalist returns since Oct. 19.

Grayscale "discount" hits one-month lows

While speech continues to revolve astir Bitcoin futures ETFs and their marketplace impact, manufacture stalwart Grayscale is biting back.

Amid claims that the newly-launched funds are sucking customized away from GBTC, the firm's chiefs were speedy to enactment that the second was successful information a amended stake since motorboat day.

GBTC vs. BITO show chart. Source: TradingView

Over the 7 days to Monday, GBTC returned astir 8.8%, portion the pioneering Bitcoin futures ETF, ProShares' Bitcoin Strategy ETF (BITO), fell 0.5%.

This was acknowledgment successful portion to the GBTC premium heading higher, reaching its lowest discount to spot terms since aboriginal September this week.

Concerns antecedently centered connected Grayscale's imaginable inability to rescue the antagonistic premium arsenic much ETFs launched, this successful crook countered by those who argued that the 2 instruments' worth proposition cannot beryllium compared.

GBTC premium vs. holdings vs. BTC/USD chart. Source: Bybt

Barry Silbert, CEO of Grayscale genitor institution Digital Currency Group, further highlighted GBTC's higher trading volumes. For Monday, these totalled $374 million, portion BITO managed $286 million.

As Cointelegraph reported, Grayscale CEO Michael Sonnenshein precocious repeated his pledge to person GBTC itself into an ETF, formally applying to bash truthful with United States regulators.

Ethereum futures ETF next?

Meanwhile, Tuesday sees the motorboat of the 3rd U.S. Bitcoin ETF, this clip from VanEck.

Related: BTC terms ‘on the mode to $90K’ — 5 things to ticker successful Bitcoin this week

Long locked successful a conflict with the Securities and Exchange Commission (SEC) implicit bringing specified a merchandise to market, the merchandise marks a enactment successful the soil for longtime marketplace participants.

The destiny of carnal Bitcoin ETFs — those with BTC really delivered — inactive hangs successful the equilibrium up of an SEC determination connected the archetypal applications adjacent month.

"If regulators cared capable astir the champion involvement of investors, they would o.k. a carnal Bitcoin ETF soon," VanEck manager Gabor Gurbacs argued past week.

"14 countries successful Europe, Canada, Brazil and different nations person entree to physicals Bitcoin ETPs. Physical > Futures."
Bitcoin ETF determination schedule. Source: Arcane Research

Popular trader and expert Scott Melker countered that an Ethereum futures ETF volition precede the physcial Bitcoin go-ahead.

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