🚀DeFi lovers, gather 'round! FTX, the bankrupt crypto exchange, owns a whopping $417M of Grayscale's Bitcoin Trust (GBTC)🤯. But fear not, they plan to return funds to creditors in fiat💸, trading assets carefully to avoid market crashes📉. Good news for GBTC discount to NAV, right?😉

🌐GBTC, the world's largest crypto fund, has a narrowing discount to NAV, thanks to bullish bitcoin vibes & optimism for a spot ETF approval🎉. But will a recent lawsuit against Grayscale's parent company, Digital Currency Group, throw a wrench in the works?🤔

🔮Analysts predict the SEC will decide on spot bitcoin ETFs before FTX's bankruptcy reorganization in Q2 2024📅. If GBTC becomes an ETF, FTX sales should just track the underlying BTC price📈. But if not, the discount might widen😱. Let's hope for the best!🤞

🗣️What do you think? Will the SEC approve the spot ETF? Share your thoughts in the comments!👇 #DeFi #Web3