GBTC is trading at $62.91 (-3.54%) as Bitcoin and broader risk assets weakened amid renewed Middle East tensions and higher oil prices.
- Concerns over AI spending after Tesla cut its capital-expenditure forecast added to the market’s risk-off mood.
- Reports do not identify the October 21 announcement enabling in-kind investing as the cause of the decline.
- GBTC’s move is consistent with weakness in crypto and risk-sensitive markets, despite reported Bitcoin ETF inflows.