{"id":51801,"date":"2021-10-26T17:45:47","date_gmt":"2021-10-26T14:45:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51801"},"modified":"2025-09-03T01:42:59","modified_gmt":"2025-09-02T22:42:59","slug":"arcane-research-analysts-see-slim-odds-for-spot-bitcoin-etf-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/arcane-research-analysts-see-slim-odds-for-spot-bitcoin-etf-launch\/","title":{"rendered":"Arcane Research analysts see slim odds for spot Bitcoin ETF launch"},"content":{"rendered":"<p>The market does not expect SEC approval of a spot ETF based on the first cryptocurrency. According to Arcane Research analysts, this follows from the GBTC discount to its NAV.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Weekly Update \u2014 Week 42<br \/>\ud83d\udd39Record-breaking launch of BTC futures ETFs<br \/>\ud83d\udd39The GBTC discount has never been bigger \u2013 the market does not expect acceptance of a spot ETF<br \/>\ud83d\udd39<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> miners&#8217; sustainable power mix is almost 3x higher than the world average<a href=\"https:\/\/t.co\/PLmRYx1nnn\">https:\/\/t.co\/PLmRYx1nnn<\/a><\/p>\n<p>\u2014 Arcane Research (@ArcaneResearch) <a href=\"https:\/\/twitter.com\/ArcaneResearch\/status\/1452993665052418059?ref_src=twsrc%5Etfw\">October 26, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Grayscale<a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\">sent<\/a> a Form 19b-4 to the SEC to convert the Bitcoin Trust into a spot ETF under the ticker BTC. The decision followed<a href=\"https:\/\/u1f987.com\/en\/news\/trading-starts-for-proshares-first-us-bitcoin-futures-etf\"> the debut of trading of the first futures-based ETF tied to the first cryptocurrency<\/a>.<\/p>\n<p>The trust is Grayscale&#8217;s largest. As of October 25, its assets under management stood at $40.46 billion. The company&#8217;s total assets under management (AUM) were estimated at $55.5 billion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">10\/25\/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.<\/p>\n<p>Total AUM: $55.5 billion<a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BAT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BAT<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BCH&#038;src=ctag&#038;ref_src=twsrc=twsrc%5Etfw\">$BCH<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LINK&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LINK<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24MANA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MANA<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24FIL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$FIL<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ZEN&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ZEN<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LTC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LPT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LPT<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24XLM&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$XLM<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ZEC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ZEC<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24UNI&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$UNI<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24AAVE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$AAVE<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24COMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$COMP<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24MKR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MKR<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24SUSHI&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SUSHI<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24SNX&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SNX<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24YFI&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$YFI<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24UMA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$UMA<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BNT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BNT<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ADA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ADA<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a> <a href=\"https:\/\/t.co\/Xp3UdDbTxD\">pic.twitter.com\/Xp3UdDbTxD<\/a><\/p>\n<p>\u2014 Grayscale (@Grayscale) <a href=\"https:\/\/twitter.com\/Grayscale\/status\/1452737269648003088?ref_src=twsrc%5Etfw\">October 25, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>Is the market expecting the SEC to approve GBTC as the first spot Bitcoin ETF in the United States? We are looking at the trust&#8217;s discount as the market&#8217;s assessment of such a scenario. If this happens, Grayscale will launch a buyback programme, many traders will start playing for a compression of the spread. For now, such a development seems unlikely.<\/em> \u2014 analysts wrote.<\/p>\n<\/blockquote>\n<p>The GBTC discount has persisted since February 23. By October 25 it had narrowed to 12.91%.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"290\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-576-1024x290.png\" alt=\"Arcane Research analysts see slim odds for spot Bitcoin ETF\" class=\"wp-image-154039\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-576-1024x290.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-576-300x85.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-576-768x217.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-576.png 1028w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Premium\/discount to NAV dynamics. Data: <a href=\"https:\/\/ycharts.com\/companies\/GBTC\/discount_or_premium_to_nav\">yCharts<\/a>.<\/figcaption><\/figure>\n<\/div>\n<p>In May 2021, Digital Currency Group, Barry Silbert&#8217;s parent company of Grayscale Investments, announced an increase in the GBTC buyback limit from $250 million to $750 million.<\/p>\n<p>Recently, US Global Investors, Miller Opportunity Trust, Morgan Stanley and Wealthfront have reported purchases of GBTC shares.<\/p>\n<p> Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The market does not expect SEC approval of a spot ETF based on the first cryptocurrency. According to Arcane Research analysts, this follows from the GBTC discount to its NAV.<\/p>\n","protected":false},"author":1,"featured_media":51802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1874,18,1214,943,1211],"class_list":["post-51801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arcane-research","tag-bitcoin","tag-grayscale-bitcoin-trust","tag-grayscale-investments","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51801"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51801\/revisions"}],"predecessor-version":[{"id":51803,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51801\/revisions\/51803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51802"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}