Home cryptopedia GBTC Discount Extends to 27%

GBTC Discount Extends to 27%

by cryptolovers


Shares of the Grayscale Bitcoin Trust are trading significantly below BTC spot prices as the asset circles around $30K. Since the beginning of the year, GBTC is down some 45%.

  • Grayscale is the world’s leading digital asset manager, and its Bitcoin Trust is the company’s flagship product.
  • It allows investors to receive exposure to the price of BTC without having to worry about safekeeping it. Eligible shares are also quoted on OTCQX – the top marketplace for trading stocks over-the-counter.
  • The minimum investment requirement is set at $50K, and each share represents 0.00092439 BTC.
  • At the time of this writing, obtaining BTC through GBTC shares is roughly 27% cheaper than buying it on the open markets.
  • As mentioned above, since the beginning of the year, GBTC plunged by some 45%, whereas the BTC spot price is down only about 34% – a considerable discrepancy.
img1_grayscale
GBTC Shares to spot BTC. Source: Grayscale

 

  • Grayscale tends to be used as a reference for institutional demand, and with the discount being as large as it is, a somewhat plausible assumption could be that the latter is currently at a low point.
  • Of course, it’s also worth mentioning that GBTC shares come with a 6-month lock-up.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



Crypto Team

You may also like

Leave a Comment

logo

cryptohunter.store is the Best News and trends about crypto world. Info & Trends Crypto » Info & Trends Crypto – Bounty, Shiller & Airdrop

For Advertise and Shilling 

Please Contact us

©2022 All Right Reserved Info & Trends Crypto » – Bounty, Shiller & Airdrop – .Developed by cryptohunter