Grayscale's GBTC Discount Narrows Further As Judges Grill SEC Argument

Grayscale Bitcoin Trust (GBTC): The attorneys representing the U.S. Securities and Exchange Commission’s (SEC) in the Grayscale lawsuit faced tough questions from the judges. The primary discussion on the opening day of arguments was centered around how the SEC differentiates futures Bitcoin ETF from spot Bitcoin ETF. The case concerns Grayscale’s challenge to the SEC’s rejection of conversion of GBTC into and ETF. Interestingly, the development pushed GBTC share price to its highest level in 2023 so far.