The World’s Biggest Bitcoin Fund Posts Best Day in Two Years on Court Ruling

Grayscale Bitcoin Trust rose 17% on bets it will become an ETF
US court overturned an SEC decision to block the conversion

Bitcoin ETF Ruling a 'Huge Win' for Grayscale, CEO Says

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By Sunil Jagtiani

August 30, 2023 at 1:33 AM UTC

Updated on

August 30, 2023 at 4:52 AM UTC

This article is for subscribers only.

The $17.4 billion Grayscale Bitcoin Trust rallied the most since July 2021 after a US court ruling potentially paved the way for the vehicle to convert into an exchange-traded fund.

Shares in the world’s largest Bitcoin portfolio jumped 17% on Tuesday, narrowing their discount to the value of the fund’s underlying token holdings to about 18% compared with a December shortfall of nearly 50%.