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!
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.
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?
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!!!!
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.
[uncensored-r/Bitcoin] Record Date and Time for BCH Distribtion on GBTC
The following post by freedombit is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: reddit: /Bitcoin/comments/6yo4ed The original post's content was as follows:
Due to the August 1st Bitcoin fork, entities (Stocks hereout) like GBTC now hold both Bitcoin Segwit and Bitcoin Cash. The underlying value of such entities includes the sum of both. For this reason, GBTC-like Stocks are now faced with a conundrum. Whether they maintain 'inventory' of both chains under the umbrella Stock or split off one of the coins and create a new Stock or distribute the split coin to Stock holders, a date and time of the holdings must be recognized. Decisions made now have legal repercussions down the road. I have two questions for the community. First, and most urgent; what do you think the legal date of the "split" should be in such cases? Second, how much value must a fork have before an entity like GBTC, or even an exchange, must provide the fork value to it's customers? (It would obviously be impossible to manage every fork, as a single person can create a fork. So what is that threshold?)
[ July 25, 2020 ] Visa, Mastercard come out in support of cryptocurrencies Bitcoin [ July 25, 2020 ] Altcoin Market Outlook Tezos, Ethereum Classic and Band Protocol all buckle under bearish pressure Ethereum July 25, 2020 Home Videos Is the Grayscale Bitcoin or Ethereum Trust a Good Investment? (GBTC & ETHE) (GBTC & ETHE) May 26, Tips for Trading GBTC (the Bitcoin Investment Trust) in 2019 and Beyond. The Bitcoin Investment Trust is the only choice for investors to trade Bitcoin on the stock market, and for this investors pay a premium. Below we explain the Bitcoin Investment Trust (GBTC), the pros and cons of GBTC, and why GBTC is a better investment than Bitcoin in some ways (but not in others). Find the latest GRAYSCALE BITCOIN TRUST BTC (GBTC) stock quote, history, news and other vital information to help you with your stock trading and investing. What is the Bitcoin Investment Trust (GBTC)? This trust acts as a bitcoin fund of sorts, offering up the opportunity to bet on bitcoin by buying its shares. With the Bitcoin trust, 1 share of GBTC is worth roughly 1/1000th of a Bitcoin. As of March 31st, just to give you an idea, the trust held about 182,000 bitcoins, and there were about 182 million shares of that trust outstanding, each representing ownership of about 0.001 Bitcoins.
Banking Bitcoin Exchanges Goldman on Bitcoin GBTC Bulls - BBP093
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