The "OG" institutional #BTC investment vehicle has risen in value as a result of BlackRock's intentions for bitcoin.

The Grayscale Bitcoin Trust ( #GBTC ) nearly surpassed fresh 2023 highs on June 17, according to data from the monitoring tool #CoinGlass.

GBTC "premium" declines to -37%

After learning that #BlackRock, the largest asset manager in the world, had submitted paperwork to start an exchange-traded fund (ETF) based on the Bitcoin spot price, the mood in the bitcoin market slightly improved late last week.

Some believe that a spot ETF from a dependable company like BlackRock should have a greater chance of ending the legal deadlock even though it is still not permitted in the United States.