Since the early this year, the GBTC(Grayscale BTC) discount has been decreasing. I think the main reason is the probability of BTC spot ETFs approvals.
The third deadlines whether BTC spot ETFs will be approved or not are scheduled to the middle of Jan next year. Well, I think the SEC is willing to delay them as late as possible. So, I'm not looking forward to the next January 😕
Before approving BTC spot ETFs, the crypto market will be more volatile. The volatility of cryptos can be opportunities for someone. I wish you take them this during this dawn 🌅