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He's not shorting it, he's just arbitraging GBTC vs. the bitcoin futures. The Bitcoin Investment Trust, a publicly traded vehicle whose bitcoin holdings are wo
by frgtpsswrdlame 9y ago
He's not shorting it, he's just arbitraging GBTC vs. the bitcoin futures.
The Bitcoin Investment Trust, a publicly traded vehicle whose bitcoin holdings are worth $1,601 a share, nonetheless trades at a price more than double that amount, according to data compiled by Bloomberg.
A savvy trader could in theory mint money by betting that gap will shrink. Futures contracts introduced over the past week by Cboe Global Markets Inc. and CME Group Inc. provides a way to do that: Buy the futures, short sell the Bitcoin Investment Trust.