According to Foresight News, analysts at JPMorgan have stated that the Grayscale Bitcoin Trust (GBTC) may face an outflow of at least $2.7 billion once it converts to an ETF. The potential outflow is due to investors apparently purchasing shares at a significant discount in anticipation of the ETF conversion and planning to arbitrage after the conversion. The current GBTC negative premium rate is below 10% for the first time since July 2021.
However, analysts noted that most of the funds are expected to flow into other Bitcoin instruments, such as newly created spot Bitcoin ETFs that may be approved by the U.S. Securities and Exchange Commission.
