GBTC discount presents a unique challenge for Grayscale and investors
The Grayscale Bitcoin Trust continues to trade at a discount compared to BTC, a situation that presents a unique challenge to Grayscale and investors. Since 2013 the Grayscale Bitcoin Trust Fund (GBTC) has offered its investors exposure to Bitcoin (BTC) through a publicly quoted private instrument. However, the trust's convertibility and liquidity vastly differ from an Exchange Traded Fund (ETF).Trusts are structured as companies, at least in regulatory form, and are 'closed-end funds' which can initially only be sold to accredited investors. This means the number of available shares is....
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Will GBTC get to become the first US-based spot bitcoin ETF? The euphoria from six months ago turned into Grayscale hinting that it might sue the SEC if its request is denied. Currently, the climate dictates that the answer will probably be negative, but the company is not giving up. According to CNBC, Grayscale “met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF.” Related Reading | Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund The....
On August 29, the US Court of Appeals ruled in favor of Grayscale in its legal battle against the US Securities and Exchange Commission (SEC). Following this, Grayscale’s GBTC shares trading volume significantly increased, climbing to a 2-year high in the process. GBTC Shares See 17% Increase According to data from Yahoo Finance, GBTC’s share price had opened at $17.66 on the day and closed at $20.56, rising by almost 17% from the previous day. Furthermore, the fund saw its busiest day in over a year, with over 19 million GBTC shares changing hands. This volume jump marked the fund’s....
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....
It's a polarizing world in institutional Bitcoin offerings this week as Grayscale's CEO remains convinced demand will return. Bitcoin (BTC) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler.According to data from on-chain monitoring resource Coinglass on May 13, the Grayscale Bitcoin Trust (GBTC) is now trading at a nearly 31% discount.Grayscale CEO: Investors are "waiting for things to settle down"Amid ongoing market volatility this week, GBTC has seen its fledgling recovery fall flat on its face — for the time being.The so-called....
Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days.
GBTC Discount to NAV Widens by 35% — Fund Reaches an All-Time Low Against BTC Spot Price
The Grayscale Bitcoin Trust (OTCMKTS: GBTC) is the oldest, and one of the most popular, bitcoin (BTC) funds on the market today. However, in recent times GBTC has been suffering from a discount compared to BTC’s spot market values.....