GBTC has been offering better returns than Bitcoin ETF for the past week

GBTC has had better returns than Bitcoin ETFs for the past week and it looks like the flagship fund has no competition from launching new ETF products as we read more in today’s Bitcoin news.

Bitcoin investment vehicle Grayscale bitcoin Trust outperforms exchange-traded funds that hit the market just a week ago, the data shows. Figures shared by Grayscale executives confirm that GBTC offers better returns than the Bitcoin eTF product a week ago. As negotiations continue on BTC futures ETFs and their impact on the market, Grayscale protests.

Amid claims that newly launched funds are sucking GBTC’s habits away as management quickly realized that a second fund was a better idea since launch day. Over the past week, GBTC has returned around 8.8% while the ProShares ETF Bitcoin futures strategy is down 0.5%.

This is partly due to the fact that GBTC’s premium has risen higher and has hit a low discount to spot prices since the beginning of September this week.

Concerns centered on Grayscale’s inability to save negative premiums in the face of the numerous ETFs being rewarded, contradicting those who argued that the value propositions of the two instruments were not comparable. Barry Silbert, CEO of Grayscale’s parent company Digital Currency Group, outlined a higher GBTC trading volume, which is $ 374 million, while BITO manages $ 286 million. Grayscale CEO Michael Sonnenshein has reiterated his promise to convert GBTC into an ETF and signed it with US government officials.

In the meantime, the third US BTC ETF was launched on Tuesday, this time for VanEck. Long in the battle with the SEC to bring a product to market, the release marked a milestone for the longest-running market participants. The fate of physical BTC ETFs is indeed ruled out, pending the SEC ruling on the first filing next month. VanEck director Gabor Gurbacs argues:

“If regulators care enough about the best interests of investors, they will soon approve a physical Bitcoin ETF. 14 countries in Europe, Canada, Brazil and others have access to physical Bitcoin ETPs. Physics> future. “

Famous traders and analysts Scott Melker protested that an ETH futures ETF would get the green light for physical BTC.

.