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Bitcoin

GBTC Surges By 11.44%, Reaching Highest Trading Volume In Months

June 21, 2023 - Around 2 mins mins to read

Key Points:

  • Bitcoin and GBTC have both experienced significant gains, with GBTC surging by 11.44% and reaching a trading volume of $10.24 million, the highest since November 22 last year.
  • Grayscale Bitcoin premium has rallied more than 25% since BlackRock filed for a Bitcoin ETF like GBTC application.
Bitcoin and GBTC surged, ETF applications filed, and SEC identified altcoins as securities. The crypto market recovered with significant gains in Bitcoin and GBTC. Bitcoin and Ether had significant gains at the start of the trading day, with Bitcoin’s market value reaching 51%.

GBTC surged by 11.44%, reaching a trading volume of $10.24 million, the highest since November 22 last year. This is due to GBTC rising by more than 25% since BlackRock filed for a Bitcoin ETF like GBTC application. CryptoQuant shows that the current Grayscale Bitcoin premium is -34.19%, the second highest point this year.

GBTC Surges By 11.44%, Reaching Highest Trading Volume In Months

Bitcoin has also risen sharply, with gains of 6.9% in the past 24 hours and 10.6% in the last seven days. Tradingview shows that Bitcoin’s market value has reached 51%. This is a significant increase and a positive sign for the market.

In addition, four large ETF institutions, including iShares Bitwise WisdomTree Invesco, have recently applied for a Bitcoin ETF. This has the potential to attract more money into Bitcoin. Furthermore, the U.S. SEC has identified a large number of altcoins as securities, which could also result in more money flowing back into Bitcoin.

Bitcoin and Ether started the trading day with significant gains. Bitcoin reached $29k before trading at around $28,762, while Ether is up 3.4% and is trading at $1,793. This is great news for crypto investors and indicates that the market is beginning to recover.

GBTC Surges By 11.44%, Reaching Highest Trading Volume In Months

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Thana

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.