Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) outperformed the newly launched substitution-traded funds (ETF) last week, data shows.

Figures shared by Grayscale executives among others confirm that GBTC has quietly delivered better investor returns since Oct. 19.

Grayscale "discount" hits one-calendar month lows

While talk continues to circumduct around Bitcoin futures ETFs and their market impact, industry stalwart Grayscale is bitter back.

Amongst claims that the newly launched funds are sucking custom away from GBTC, the firm'southward chiefs were quick to note that the latter has in fact been a amend bet since launch day.

GBTC vs. BITO performance nautical chart. Source: TradingView

Over the seven days to Mon, GBTC returned effectually 8.8%, while the pioneering Bitcoin futures ETF, ProShares Bitcoin Strategy ETF (BITO), fell 0.v%.

This was thanks in part to the GBTC premium heading higher, reaching its lowest discount to spot price since early September this week.

Concerns previously centered on Grayscale's potential inability to rescue the negative premium every bit more ETFs launched, this in turn countered by those who argued that the two instruments' value proposition cannot be compared.

GBTC premium vs. holdings vs. BTC/USD chart. Source: Bybt

Barry Silbert, CEO of Grayscale parent company Digital Currency Group, further highlighted GBTC's higher trading volumes. For Monday, Oct. 25, these totaled $374 meg, while BITO managed $286 1000000.

As Cointelegraph reported, Grayscale CEO Michael Sonnenshein recently repeated his pledge to convert GBTC itself into an ETF, formally applying to do so with U.s.a. regulators.

Ether futures ETF next?

Meanwhile, Tuesday sees the launch of the third United States Bitcoin ETF, this time from VanEck.

Related: BTC price 'on the way to $90K' — 5 things to watch in Bitcoin this calendar week

Long locked in a battle with the U.Due south. Securities and Substitution Committee over bringing such a product to market, the release marks a line in the sand for longtime marketplace participants.

The fate of physical Bitcoin ETFs — those with BTC actually delivered — nonetheless hangs in the balance ahead of an SEC decision on the first applications next calendar month.

"If regulators cared plenty about the best interest of investors, they would corroborate a physical Bitcoin ETF soon," VanEck digital assets strategy director Gabor Gurbacs argued last week.

"14 countries in Europe, Canada, Brazil and other nations have access to physicals Bitcoin ETPs. Physical > Futures."
Bitcoin ETF decision schedule. Source: Arcane Research

Popular trader and analyst Scott Melker countered that an Ether (ETH) futures ETF volition precede the concrete Bitcoin go-ahead.