According to Cointelegraph, the Grayscale Bitcoin Trust (GBTC) could erase its BTC price discount in 2024. CoinGlass, a monitoring resource, predicted that the so-called 'GBTC premium' would soon return. Grayscale's recent court victory over United States regulators on August 29 provided an instant remedy to the flagging GBTC performance. The fund, which contains over 600,000 BTC, has traded at a discount to the Bitcoin spot price, also called net asset value (NAV), since February 2021. The U.S. Securities and Exchange Commission (SEC) must now consider GBTC's conversion to a Bitcoin spot price exchange-traded fund (ETF) on the same terms as other applicants, which sent the discount to its lowest levels since December 2021. At just -17%, it is now less than half of what it was at the peak, when it neared 50% in what was once called an 'elevator to hell.'