Grayscale’s Bitcoin Trust Fund GBTC and Ethereum Trust Fund ETHE have outperformed spot Bitcoin (BTC) and Ethereum (ETH) so far in 2023.
Data show that GBTC has risen by 95% this year, and its discount has narrowed to about 40% (it was once as low as 50% in January 2023); ETHE has risen by 83% this year, and its discount has narrowed to about 51% (it was once as low as to 60%).
That compares with bitcoin’s 72 percent gain and ethereum’s 60 percent gain over the same period. It should be noted that as the Ethereum Shanghai upgrade approaches, the market may fluctuate next week.