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For premium support please call: 800-290-4726 more ways to reach us. ... GBTC traded at a 35.7% discount to the value of its bitcoin holdings, ... (NAV). "A victory for Grayscale would also be ...
The GBTC premium was typically more than 10%, and sometimes as high as 40%. The shares couldn't be exchanged for Bitcoin, but they remained hughely popular with institutional and retail investors ...
GBTC - which in January received approval to convert from a trust to an ETF - currently has higher fees than its peers, one of the key factors in drawing investors to rival ETFs, Reuters has reported.
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.
Net asset value (NAV) is the value of an entity's assets minus the value of its liabilities, often in relation to open-end, mutual funds, hedge funds, and venture capital funds. [ 1 ] [ 2 ] Shares of such funds registered with the U.S. Securities and Exchange Commission are usually bought and redeemed at their net asset value. [ 3 ]
Grayscale Investments. Luno. Website. dcg.co. Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut. [2] The company has the subsidiaries Foundry, Genesis, Grayscale Investments, and Luno. It also formerly owned CoinDesk.
For premium support please call: 800-290-4726 more ways to reach us
Closed-end fund. A closed-end fund, also known as a closed-end mutual fund, [1][2][3][4] is an investment vehicle fund that raises capital by issuing a fixed number of shares at its inception, and then invests that capital in financial assets such as stocks and bonds. After inception it is closed to new capital, although fund managers sometimes ...