Strong Bounce Indicator Appears: GBTC Fund Discount Narrowed to 27% - Aliens: AI Crypto News & Markets Updates
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Strong Bounce Indicator Appears: GBTC Fund Discount Narrowed to 27%

PublisherPublisher
U.Today

Thu, Jun 23, 2022

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Aliens TLDR

Before the appearance of Bitcoin futures exchange-traded funds, the majority of institutional investors received exposure to the cryptocurrency market via private funds like Grayscale, but during the correction of the crypto market , the fund lost all of its gains and even entered a discount zone, which is now rapidly shrinking .

Grayscale saw a shrinking of the existing discount of almost 8%, which could be the ultimate indicator of an upcoming bounce on the cryptocurrency market as institutions gained exposure to crypto after dropping their bags when Bitcoin was tumbling from $30,000 to almost $17,000.

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