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As of Wednesday, GBTC traded at a 35.7% discount to the value of its bitcoin holdings, according to data from YCharts. That's up from a discount closer to 45% at the start of this month.
In exchange, current GBTC shareholders will get stock in the Mini Trust, the company said. Since January, GBTC has seen capital outflows of $11.05 billion, according to data from crypto research ...
A spot Bitcoin ETF, which tracks the current price of the popular cryptocurrency, had long been a pipe dream for the crypto industry, with the hope it could open new flows of investment from ...
Grayscale was founded in 2013, launching a bitcoin trust that year. [4] In 2015, the company became a subsidiary of Digital Currency Group. [5] The same year, Grayscale Bitcoin Trust (OTCQX: GBTC) began trading over-the-counter on the OTCQX market, becoming the first publicly traded bitcoin fund in the United States.
For years, these investors would buy GBTC (and later shares of equivalent trusts for assets like Ethereum) and then flip them months later at a premium to retail investors looking to get in on the ...
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The discount between the share price of the Grayscale Bitcoin Trust and the equivalent value of its underlying bitcoin has widened to 31% from 28.4% on Thursday – a sign of waning optimism after ...
See 3 “Double Down” stocks » *Stock Advisor returns as of December 2, 2024. Dominic Basulto has positions in Bitcoin, Ethereum, and Solana. The Motley Fool has positions in and recommends ...
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