GBTC premium matches Bitcoin price crash levels as unlocking fear fades
Funds are flowing back into GBTC, data suggests, as CEO Sonnenshein reiterates plans to turn Grayscale crypto funds into ETFs. The Grayscale Bitcoin Trust (GBTC) is echoing bullish sentiment in Bitcoin (BTC) as its premium over spot price rises to its highest since May.Data from analytics resource Bybt shows that on Tuesday, the so-called Grayscale premium stood at -5.88%. The last time it was closer to zero was on May 25.GBTC premium slips above -6% That was a week after Bitcoin began a major price drawdown, which this week has finally shown signs of abating.GBTC has been the subject of....
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Bitcoin prices remain under pressure in the $30,000-$40,000 zone as traders brace for the 16,000 BTC worth of GBTC shares unlocking in July. Whether a potential sell-off of shares tied to a multi-billion dollar Bitcoin (BTC) investment fund could crash the cryptocurrency's spot prices has turned into a hotly debated topic among the analysts in the space.Grayscale's premium remains negative for months The argument concerns Grayscale Bitcoin Trust, the world's largest digital assets manager that allows institutional investors to gain indirect exposure in the Bitcoin market through its....
Following the recent bitcoin price pullback, the latest Skew data now indicates that the premium rate on Grayscale’s GBTC is under 10%. The lower rate comes just weeks after the premium peaked at 41% towards the end of December. The GBTC premium is a measure of the extent of differences in the value between the crypto asset on the open market and in the Grayscale fund. The same data also shows that between late October of 2020 and January 21 of the current year, this premium averaged 22%. However, in the seven days leading up to January 21, this rate dropped to 7.3%. According to....
For the past two months, Grayscale Bitcoin Trust (GBTC) has traded at a negative premium to the net asset value (NAV). GBTC historically traded at a high premium relative to the underlying, averaging a 15% premium since the fund’s inception. This was largely due to GBTC being the only investment vehicle easily accessible to institutional […]
GBTC will "take time" to restore its balance thanks to changing market forces, analyst Willy Woo says. Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) is trading at its biggest discount since the May BTC price crash.Data on Aug. 19 confirms that as BTC/USD trades near $44,000, GBTC shares are over 16.5% below spot price.Analyst: Grayscale comeback "will take time"Grayscale, which has $42 billion in assets under management across its various cryptocurrency funds, has seen institutional interest endure throughout the recent Bitcoin price dip.Despite some conspicuous....
Since trading at a negative for nearly 2 months, GrayScale Bitcoin Trust (GBTC) premium plummeted to -14.21% this morning. Historically, GBTC has traded at a high premium relative to the underlying Bitcoin, commanding an average of 15.02% premium since the fund’s inception. But as competition grows and firms create cheaper, more accurate financial products, GBTC’s appeal has dropped dramatically — and its premium clearly shows for it. Analyzing Why Grayscale Bitcoin Trust Premium Continues to […]