The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Shares of the Grayscale Bitcoin Trust hit record lows yesterday against its net asset value, trading at a 26.5% discount. Amazingly, shares of GBTC are trading below their 2017 high. 

To understand how GBTC affects the bitcoin market, you first must understand the structure of the production. Having first started in 2013, the Grayscale product allowed accredited investors and institutions to buy bitcoin exposure by accepting dollars or bitcoin for shares of GBTC at net asset value, with a six-month lock-up period.

Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *