According to Grayscale’s latest blog post, in ETF form, GBTC stock is expected to more closely track the price of Bitcoin, meaning any premium or discount on GBTC stock price will disappear. As of November 29, 2023, GBTC's asset management scale was US$23.4 billion, with a negative premium of 8.09%, or US$1.89 billion. Assuming that the current negative premium disappears, GBTC will unlock approximately US$1.89 billion in value for investors through the arbitrage mechanism after it is listed on NYSE Arca and becomes an ETF.