✨ GBTC Ads Make Their Way to the Subway
posted 22 Jan 2024
Bloomberg’s Senior ETF Analyst, Eric Balchunas, humorously notes, "I can’t escape bitcoin ETFs even if I tried..."
This comment came as he stumbled upon an array of GBTC (Grayscale's spot Bitcoin ETF) advertisements in the Philadelphia subway system, USA. He observed that these ads were conspicuously plastered all over the station.
Intriguingly, Grayscale has been a key influencer in the sphere of spot Bitcoin ETFs. Their legal victory led the SEC to shift its stance and approve these ETFs. Additionally, the commission structure for GBTC clients and the ongoing saga of this ETF, formerly a trust, may have contributed to the dump of Bitcoin's price.
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