DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’

DCG’s B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’
Digital Currency Group, a crypto-industry holding company, came out in defense of its subsidiary Grayscale’s Grayscale Bitcoin Trust (GBTC) last week, when the fund’s shares traded on Monday at a 20.53% discount to its underlying bitcoin holdings – the steepest in five months.One perspective is that Digital Currency Group’s pledge to buy as much as $1 billion of GBTC shares might represented savvy, opportunistic timing. Another is that the parent company’s announcement was needed as a demonstration of support for the $39.45 billion GBTC, the world’s largest bitcoin fund.The plot thickened when Grayscale officially filed with the U.S. Securities and…