11 | The benefit of switching to a spot ETF would be wiping out the discount of GBTC, allowing it to track closer to NAV. The reason GBTC would track near NAV is a spot ETF would allow for the creation/destruction of shares based on demand, something it currently cannot do.
11 |转换为现货ETF的好处将消除GBTC的折扣，使其跟踪更接近NAV。GBTC将在NAV附近跟踪的原因是，现货ETF将允许根据需求创建/销毁股票，这是它目前无法做到的。