) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets.On Sep. 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data.To investors, GBTC has long served as a great alternative to gain exposure in the Bitcoin market despite its 2% annual management fee. This is primarily because GBTC is easier to hold for institutional investors because it can be managed via a brokerage account.
For most of its existence, GBTC traded at a hefty premium to spot Bitcoin prices. But It started trading at a discount after the debut of theUnlike an ETF, the Grayscale Bitcoin Trust does not have a redemption mechanism. In other words, GBTC shares cannot be destroyed or created based on fluctuating demand, which explains its heavily discounted prices compared to spot Bitcoin.
Grayscale's efforts to convert its trust into ETF failed after the Securities and Exchange Commission's rejection in June. In theory, SEC's approval could have reset GBTC's discount from current levels to zero, churning out profits for those who purchased the shares at cheaper rates.
Source: News Formal (newsformal.com)
I received $5,000 after investing $1000, this is what I never expected. Bitcoin is indeed the future. Thanks for putting an undying smile on my face TOMFIGG1
When I buy real Bitcoin in Bitfinex, I think that there are some fools who buy securities tied to Bitcoin
Ooh 😮 Grayscale GBTC is not doing so well
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Just because is just a paper trade
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Cannot read it - bad JS somewhere, blank screen.
I ccan t get why mediia iis siilent about thiis
Explain in bullish terms
🚀 Thank you for this amaying opportunity!
RichardHeartWin has been talking about this forever
What are the benefits of using this program?
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🚀Thnkss a millon.
BTC will never go nback to ATH unless Greyscales BTC is at a premium🤑 Screenshot this📷
This not warning, it is the red flag
The biggest underground secret off 1INCH
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