Grayscale Bitcoin Trust discount drops to ATL of 40%
Bitcoin, the market’s largest crypto asset, shed more than 11% of its value over the past day. At press time on Thursday, the king coin was seen exchanging hands at $16,315.48—a level last seen in Q4 2020. BTC/USDT Weekly | Source: TradingView Grayscale Bitcoin Trust Discount Widens Just like Bitcoin investors, even investors of Grayscale’s flagship Bitcoin Trust have been suffering losses lately—for the RoI has consistently remained negative. GBTC shares, as such, provide investors exposure to BTC, without the need to actually buy and HODL the asset itself. Conventionally, institutions prefer this kind of investment route more because of the passiveness offered. Grayscale Bitcoin Trust shares’ discount just hit rock bottom. At press time, it was standing at its all-time low level of 40.73%, with one share priced at merely $8.79. Source: Coinglass Grayscale, on its part, has been trying to convert its Bitcoin Trust into an ETF to reverse the...