3 ms·
> several exist and they track the BTC:USD rate relatively accurately They are terrible assets with severe discount/premium swings reaching the high 40%s [0].
by okwubodu 3y ago
> several exist and they track the BTC:USD rate relatively accurately
They are terrible assets with severe discount/premium swings reaching the high 40%s [0]. The ratio's only tightening now that a potential arbitrage opportunity is on the table.
[0] https://ycharts.com/companies/GBTC/discount_or_premium_to_nav https://ycharts.com/companies/GBTC/discount_or_premium_to_na...
- initplus 3y agoGBTC is it's own weird separate thing, with a whole bunch of red flags. It's not yet an ETF. They don't even distribute the fund prospectus online, it's only available by email request. Tracking for actual BTC futures ETF's is quite good. Arbitrary example: https://ycharts.com/companies/BITO/discount_or_premium_to_nav https://ycharts.com/companies/BITO/discount_or_premium_to_na... GBTC has diverged so far because it doesn't have a public creation/redemption mechanism. Matt Levine briefly touched on this recently: https://www.bloomberg.com/opinion/articles/2024-01-04/put-the-bitcoins-in-the-box https://www.bloomberg.com/opinion/articles/2024-01-04/put-th...