Amid the turbulence of the cryptocurrency market, the trading volume of Grayscale Bitcoin Trust (GBTC) hit a new high again, sparking heated discussions in the market. At the same time, the approval of the Bitcoin spot ETF has also become a focus of attention, and investors are looking forward to new opportunities. Let's take a deep look at this series of events and analyze the market trends.

Grayscale GBTC trading volume hit a new high this year, and the market heat continues to rise. Investors are betting on cryptocurrencies such as Bitcoin to seek more investment opportunities. As a popular investment tool, the increase in GBTC's trading volume reflects investors' continued enthusiasm for cryptocurrencies. This phenomenon also implies that the market's recognition of digital assets is constantly increasing, and investors' optimism about the future is becoming more and more obvious.

The approval of the Bitcoin spot ETF has undoubtedly injected new vitality into the cryptocurrency market. The approval of the ETF will open the door for more traditional investors to participate in the cryptocurrency market in a more convenient way. This good news also brings more liquidity to the market and accelerates the development of the digital asset market. Investors are optimistic about the future and bet on the potential of the cryptocurrency market.

The negative premium continues to narrow, and market sentiment is gradually warming up. As the market heats up, the negative premium of GBTC gradually decreases, and investor confidence is further enhanced. This phenomenon also shows that the market's optimism about digital assets is gradually recovering, and investors are more optimistic about the future. The narrowing of the negative premium brings more choices to investors and adds a touch of color to the stability of the market.

In this volatile cryptocurrency market, investors need to remain vigilant and grasp the pulse of the market. Grayscale GBTC's trading volume hit a new high, Bitcoin spot ETF was approved, and the negative premium continued to shrink. This series of events will undoubtedly affect the market trend. Investors need to flexibly adjust their investment strategies according to market conditions, seize investment opportunities, and avoid risks.

In general, the future of the cryptocurrency market is full of infinite possibilities, and investors can seize opportunities to achieve wealth growth. Grayscale GBTC's performance once again proves the vitality and potential of the cryptocurrency market, and the approval of Bitcoin spot ETF has also brought new opportunities to the market. Investors should remain optimistic, invest rationally, grasp the pulse of the market, and witness the prosperity and development of the cryptocurrency market together. I hope that every investor can get an ideal return on investment in this market full of opportunities and challenges, and start a new journey of wealth growth.

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Coin Circle (120btc.COM) News: BlackRock, with an asset management scale of more than $9 trillion, submitted a Bitcoin spot ETF application to the U.S. Securities and Exchange Commission (SEC) in June, which greatly strengthened investors' expectations that spot ETFs will soon be launched and pushed up Bitcoin in the short term.

Grayscale GBTC trading volume hits a new high this year

In addition to the incentive for the currency price, another biggest beneficiary is Grayscale Investments' Bitcoin Trust Fund GBTC.

According to TheBlock data, GBTC's trading volume has increased significantly since June and reached its highest level this year, exceeding $183 million last weekend. It once again broke the record of $170 million set on June 20.

Grayscale GBTC negative premium rate approaches 25%

Since investors expect that if the SEC approves the spot Bitcoin ETF, there will be no reason to oppose Grayscale's application to convert GBTC into a spot ETF, so GBTC, which originally had a negative premium rate of more than 40%, has become the target of investors' bets.

The negative premium rate began to decrease rapidly from mid-June, reaching 25.24% on July 13, setting a record high in more than a year. It is reasonable to predict that if the application for the spot Bitcoin ETF continues to advance, the negative premium rate of GBTC may continue to decline.