July will be one of the most important months in the history of Bitcoin.The SEC is expected to make a decision on whether to allow the Grayscale Bitcoin Trust to convert to a spot Bitcoin ETF, potentially unlocking billions in value for GBTC holders.A vote of approval will legitimize Bitcoin as an asset class and pave the way for households to buy Bitcoin with a low expense ratio and a few clicks.GBTC trades at a 30% discount to NAV, offering a high-upside trade with a 4-6 week timeframe. Either the market knows something we don't, or the lack of traditional arbitrage capital in the crypto market makes this an attractive opportunity.What's new in crypto, from the altcoin shakeout to a potential crackdown on stablecoins.
