Grayscale BTC Trust trades at a record 36.7% discount, but is it justified?
Grayscale’s BTC trust trades at a 36.7% discount to their actual BTC holdings, and it’s possible that more than just the market-wide downtrend stands as the reason for the spread. U.S. investors have been waiting for a Bitcoin exchange-traded fund (ETF) approval since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request at the Securities and Exchange (SEC). Over the years, the SEC has rejected every applicant and the latest denial was issued to WisdomTree’s application for a spot Bitcoin ETF on Oct. 11. The SEC concluded that the offer did not have the ability “to obtain....
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Digital Currency Group’s Flagship Grayscale Bitcoin Trust Is Trading At About 16.52% Below The Bitcoin Spot Price, Marking The Largest Discount Since Bitcoin’s May Price Decline.
Just a few days after GBTC traded at a 15% discount to its BTC equivalent, Grayscale Investments has temporarily closed the trust to investors. Grayscale Investments’ Grayscale Bitcoin Trust (GBTC) has been under the heat for the last couple of weeks as it traded below the Bitcoin equivalent for each share. The instrument trades on over-the-counter markets and is by far the largest listed cryptocurrency asset.Periodically, the private-placement offerings for GBTC shares are temporarily closed, along with similar products offered by Grayscale Investment such as its Ethereum trust. As of....
Shares of the Grayscale Bitcoin Trust (GBTC) hit record lows against net asset value.
The Grayscale Bitcoin Trust is arguably the most popular bitcoin trust in the world. The advent of the trust cemented the interest of institutional investors in the crypto space, bringing with it widespread popularity. However, the trust itself, despite being largely popular, has not lived up to expectations. It had started trading at a discount […]
Institutional interest in Grayscale Bitcoin Trust continues to dwindle 10 months into the crypto bear market. Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets.Institutional interest in Grayscale dries upOn Sep. 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data.GBTC discount versus spot BTC/USD price. Source: YChartsTo investors, GBTC has long served as a great alternative....