The recent surge in GBTC’s price following news of BlackRock’s ETF application has led some to speculate on the impact this could have on Grayscale. While investors may rotate out of GBTC if a BlackRock ETF is approved, one expert suggests Grayscale may eventually buy back their shares at a deep discount and convert their trust into an ETF. However, others note the legal and reputational implications of such a move and argue that Grayscale is focused on building a long-term business. Overall, the impact of a BlackRock ETF on Grayscale remains unclear.
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