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Grayscale (whose father or mother firm Digital Forex Group additionally owns CoinDesk) has utilized to transform the GBTC into an exchange-traded fund, or ETF. And for months, some merchants have been monitoring the low cost as a proxy for the chance of successful approval. In response to the market logic, the GBTC would commerce at par with the underlying bitcoin within the fund if the conversion goes ahead; in different phrases, the low cost would evaporate.
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