Here's why shares of the largest bitcoin investment vehicle in the world are trading at a discount
Shares of the largest bitcoin investment vehicle in the world are trading at aThat discount has widened to as much as 35% recently, to the chagrin of some investors who paid a higher price for shares than the bitcoin they represented.
Recall crypto lender BlockFi said Tuesday that it unwound its entire position in GBTC and would not take shares as collateral, before walking back the statement: That's because GBTC is not an ETF . And its trust structure makes them inflexible to ever-changing supply and demand. That's because ETFs' unique feature allows money to flow in and out of them, without disturbing the underlying assets.: "Because the SEC has disapproved the application to convert GBTC to an ETF, the next point of escalation is to go through the judicial branch," Michael Sonnenshein, CEO of Grayscale, tells Axios.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Looming Musk-Twitter legal battle hammers company sharesElon Musk claims Twitter has failed to provide enough information about the number of fake accounts it has, though Twitter said last month it made data available to the Tesla CEO.
Read more »
Kansas University Drone Research Team Shares Tech Knowledge With US Sheriffs & DeputiesDeputies and Sheriffs from around the US got a special presentation from university researchers, introducing them to the benefits of drones.
Read more »
Harry Styles Shares ‘Late Night Talking’ Music Video Release Date & Teaser: Watch.Harry_Styles' revealed the LateNightTalking music video release date + a new teaser
Read more »
Twitter shares tank as legal battle looms over Elon Musk's plans to abandon $44B dealTwitter shares fell below $34 in early trading, far below the $54.20 that Musk agreed to pay, suggesting few investors believe the deal will go through.
Read more »
NASA shares James Webb Space Telescope's first full-color photoThe image is of galaxy cluster SMACS 0723, AKA Webb’s First Deep Field, and is the “deepest and sharpest infrared image of the distant universe to date.”
Read more »