GBTC, which often trades at a high premium traded negative today. Right now, BTC is at $48k and Grayscale is trading under $45.
This section covers cryptocurrency ETFs, ETNs, trusts, funds, and other such products. For example, this section includes GBTC.
NOTE: The Bitcoin Investment Trust (GBTC) is a trust that holds Bitcoin. Shares of the trust can be purchased on the stock market. The trust holds about 170,000 bitcoins. Each share represents about .092 bitcoins (so if you own 10 shares, you own contracts that represent just under 1 bitcoin). In other words, GBTC isn’t a cryptocurrency. Instead, it represents ownership of a cryptocurrency held in a trust by the Greyscale investments.
ETCG is currently trading at or near a negative premium. This is far from the norm for Grayscale products.
Just quickly want to point out that GBTC, ETHE, ETCG, and GDLC are now all reasonable trades while LTCN and BCHG have face-melting premiums.
Bakkt may merge with the Victory Park SPAC (VIH). VIH is the stock, VIHAW is the warrant to buy the stock at $11.50, and VIHAU is the stock + 1/2 a warrant.
Ethereum (ETH) has rallied toward its all-time high, and some signs point to a break of the all-time high.
LTCN is trading like Litecoin is worth 20 times what it is worth. LTC is currently worth $60, while LTCN is trading like Litecoin is worth about $1,380.
Litecoin and Bitcoin Cash trusts, LTCN and BCHG respectively, are both trading at about 10x premiums. Meaning they are trading for about 10x what they are worth.
Both LTCN (Litecoin trust) and BCHG (Bitcoin Cash trust) launched with absurd premiums.
The Ethereum Investment Trust (ETHE) is an investment product by Grayscale which gives investors and traders exposure to Ethereum (ETH).
The Block has revealed all of the partners of “Project Libera” (the code name of Facebook’s crypto).