10-19 21:36 - 'Agreed. If I'm buying in with a premium, when it goes up, the premium is there. GBTC is a proxy for BTC and getting the exposure without paying taxes is the benefit here.' by /u/tulumex removed from /r/Bitcoin within 62-72min
06-24 03:34 - '1. The GBTC fund sold all the hardforked coins and issued a dividend from those proceeds. 2. I just emailed Grayscale and they said the fund is closed as of today. They'll probably open it back up at some point. 3. Gra...' by /u/DrRobertBottle removed from /r/Bitcoin within 363-373min
The GBTC fund sold all the hardforked coins and issued a dividend from those proceeds.
I just emailed Grayscale and they said the fund is closed as of today. They'll probably open it back up at some point.
Grayscale has a number of funds. One is BCH. I'm a bitcoin maximalist with a side chick of ETH. So, I don't follow what they are doing with those other funds. This is their website [[link]2 if you want to do a bit of research.
The other funds are: Grayscale Bitcoin Trust (BTC) Grayscale Bitcoin Cash Trust (BCH) Grayscale Ethereum Trust (ETH) Grayscale Ethereum Classic Trust (ETC) Grayscale Horizen Trust (ZEN) Grayscale Litecoin Trust (LTC) Grayscale Stellar Lumens Trust (XLM) Grayscale XRP Trust (XRP) Grayscale Zcash Trust (ZEC) Grayscale Digital Large Cap Fund LLC ''' Context Link Go1dfish undelete link unreddit undelete link Author: DrRobertBottle 1: *rays*al*.co/ 2: graysc***.co/]^*1 Unknown links are censored to prevent spreading illicit content.
Canadian asset manager set to offer trading of bitcoin fund in coming months. The new product joins a slew of funds that track the nascent commodity, including Grayscale's GBTC, which trades over-the-counter and mimics some of the functionalities of an ETF.
Investors in those two products are holding record amount of bitcoin since those products went live. GBTC: 239 198 btc https://grayscale.co/# ETN (ETN SEC +ETN EUR): 64 749btc https://xbtprovider.com/ Anyone knows for any other products which data is public? Thanks :) HODL!
Local bitcoins average price is around $900, 50% premium seems too high (considering ppl can buy relatively easily on exchanges and probably would be very happy with 5-10% profit to sell on lbc, it's not like gbtc where a 50% premium can be justified). What are the reasons behind this premium?
Only do this if you have good reason to buy ETN instead of the real thing (tax advantage, for example). The premium of the GBTC is decreasing because there is now a competitor - the Bitcoin ETN (CXBTF). So, the arbitrage traders are making the GBTC price more close to the ETN's. If you don't know - ETN's price is not quoted in USD. Available on Etrade and other online brokers. (Of course, it's better to buy the real thing. But if you don't want for some reason, the ETN is better than GBTC, because of the premium you pay for the GBTC.) An ETN just bypassed the SEC approval process for ETFs! Americans can now buy spot bitcoin with their brokerage account Remember - "Your keys, your Bitcoin. Not your keys, not your Bitcoin." You are taking risk when relying on third parties to keep your bitcoins. You lose your ability to vote in case of chain forks. It's easy to the government to steal your money if you rely on banks and other third parties to keep your money. Andreas Antonopolous: ETF's are NOT good for bitcoin as the centralized custodian can decide what to do with the bitcoin they're holding. Using ETN or GBTC have only tax advantages (retirement account). Those advantages might not be so great if you compare them with the risks and fees associated with using third party.
I've been trading bitcoin and GBTC since early 2015, since then the value of bitcoin has become 3.5X, but through leveraged trading I've made my investment 8X, so I've been a relatively successful trader (although back when I started inexperienced, I lost 1/4 of my stash initially). So I feel I've gained some skills into trading this market, and here I'll try to concisely present some of my thoughts on GBTC, but I'll be happy to expand on different topics related to bitcoin if anyone has questions.
"GBTC" is the FINRA-assigned symbol for shares of the Bitcoin Investment Fund (BIT), created in Sep/2013 by SecondMarket and (now) administered by Greyscale. Each BIT share represents 0.1 BTC stored by Greyscale (which presently holds ~138 kBTC).
BIT shares older than 12 months can be traded independent through registered brokers, under the symbol GBTC.
B/C of its tax, security, regulatory advantages, since inception GBTC has always had a premium to bitcoin price which normally has ranged between 20% to 100% ($144 when bitcoin price reached $770 during the summer). The last two times that bitcoin has risen (during 4th quarter of 2015, and 2nd quarter of 2016), premium of GBTC reached a maximum of 95% and 100% respectively. Both instances the premium took a short time to catch up. At the moment premium sits at about 20% which I suspect soon will become much higher. I recommend buying GBTC up to 40% premium (I find it to be average premium across time), any more than that it may not be a good deal, but b/c of a relatively illiquid market the premiums historically have increased to 100% at which point I recommend an exit and finding a better entry.
I’d be happy to answer any questions regarding bitcoin and GBTC to the extend that I can.
GBTC is the ETF traded on NASDAQ. It is already trading at a ridiculous price in comparison to the 3700 per Bitcoin is now. This is a REVOLUTIONARY product as said by BK. This thing is going to keep flying!!!! Kudos to Japan and South Korea for stepping up. China is coming back = HUGE ups!!!!
The pros of GBTC vs. Bitcoin … The biggest pro is, as we have already discussed you can buy and sell GBTC through your existing brokerage account, without having to set up anything new or transfer money. Assuming your brokerage firm supports the over-the-counter market, you can have the trade done in a matter of minutes. So it’s very familiar and convenient. But more importantly, GBTC can ... GBTC has been available to institutional investors, and more recently, as a retail investment through brokerage accounts. A low GBTC premium means decreasing interest or market corrections for Bitcoin. In 2019, the premium peaked during the rally from April to July, then shrinking again. At one point, GBTC shares exposed traders to BTC at a ... BTC/EUR: Aktueller Bitcoin - Euro Kurs heute mit Chart, historischen Kursen und Nachrichten. Wechselkurs BTC in EUR. GRAYSCALE BITCOIN TRUST (BTC) REGISTERED AKTIE und aktueller Aktienkurs. Nachrichten zur Aktie Grayscale Bitcoin Trust (BTC) Registered Shs A2PB2L US3896371099 Grayscale Bitcoin Trust™, symbol GBTC, enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins.
A little info about the video that I will make soon about Bitcoin and GBTC. I personally have invested more than 200,000 in it at one point. I will talk abou... GBTC analyzed using Elliott Waves & Chart Patterns. Bitcoin vs GBTC - GBTC is VERY EXPENSIVE Use code qw08h1 and get 3% off your order at Genesis Mining https://www.genesis-mining.com My BTC address for donations ... Want to get in on Bitcoin, but don't know where to start? The stock market may be the easiest and quickest ways to jump on! And if you throw it in your ROTH IRA, you will enjoy TAX-FREE gains! If ... Hyperwave - Let's Talk About GBTC ! (The Bitcoin Investment Trust) - Duration: 1:10:32. Hyperwave 5,610 views. 1:10:32. Beginner Swing Trading with the TTM Squeeze - Duration: 21:36. Michael Chin ...