GBTC shares trade at biggest discount since Bitcoin crash in May

TL;DR Breakdown After the recent GBTC Unlockings, there is a great discount on the trading prices of GBTC.Such discount hasn’t been seen since the month of May when the Bitcoin crash began.The analysis of data confirms that as the BTC/USD pair trades around the $43k-$44k level, the GBTC shares are at a discount of 16.5 percent. Institutional investors who are not willing to get into the Bitcoin market but still want to earn profits are often seeing investing their money in GBTC shares. The Grayscale Bitcoin Trust has a lock-up period of six months, and on June 18th, we saw the biggest GBTC Unlocking. Bitcoin currently trades at the $43k-$44k levels, and we can expect that the price of the cryptocurrency might be looking to test the support at $41.5k. While Bitcoin is correcting after a three-week wonderful streak, the GBTC shares are selling at a discounted price that wasn’t seen since the price of Bitcoin dropped by almost 50-60 percent in the month of May. GBTC shares might regain momentum after “some time” As predicted by an analyst named Willy Woo, this is a great time to buy GBTC shares as they are trading a huge discount of 16.5 percent from the spot value. The spot price has recently recovered, but despite the recent bullish surge in the price of BTC, the discount to the net asset value of GBTC shares has increased rather than decreasing. This shows a lack of institutional interest in GBTC share...