Grayscale’s GBTC discount rate dropped to -26.53%, a new record low

According to data from YCharts, the discount rate of Grayscale GBTC dropped to -26.53%, a new record low. The deep discount to the product not only means that existing holders of GBTC are in the red, but it could also be seen as a bearish indicator of broader institutional sentiment towards Bitcoin, the analysis said.