Grayscale Bitcoin Trust (GBTC)

[FooBarAndGrill]

par $38.27 right now.

[boo boo]

"It's your money, don't give it to Grayscale!"

Author unknown...

[FooBarAndGrill]

Gotta love JGW, lol.

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[boo boo]

EZBC = GBTC competition. It's your money J. G. Wentworth...

[FooBarAndGrill]

lol you pay they show.

[lumpina]

thx but they are not showing on ihub

[FooBarAndGrill]

70,000 trades so far today.

[boo boo]

Dump Grayscale. Go with Franklin Templeton or Bitwise:

Franklin Templeton Cheapest BTC ETF

[lumpina]

why are there no trades?

[FooBarAndGrill]

Yeah, the first few days are going to be a little rough. Lots of pent-up demand both ways.

[Lokotony]

I get that.....but my point is, $42 yesterday, they added 456M to their portfolio. Meaning goes even higher and then tracks with BTC. IMHO

[FooBarAndGrill]

The ETF share price will (roughly) track par value. To make that happen, shares are *created and sold* or *purchased and deleted*.
* https://etfs.grayscale.com/gbtc

[Lokotony]

Within an hour of the opening bell Thursday morning, Grayscale Bitcoin Trust (GBTC.NaE) sold $456 million in bitcoin ETFs,
Where TF is that reflected in the Share price?!?!?!?! You gained 456M, where is it?

[KICK1]

Shorty Ain’t Ready 420 $BTC $GBTC $FBTC PPP!

[KICK1]

I’ll Get One Bitcoin @420! 2024! $BTC $GBTC PPP! Country Boys

[boo boo]

What to look for when institutional investors unload to retail. Anybody know?

[FooBarAndGrill]

re.

So, one share of GBTC equals how many bitcoin? Coincodex has this:
1 GBTC to BTC 0.00087667

Sounds like Coincodex has got it wrong.
Check BITCOIN PER SHARE <----HERE

[SilverKnightLV]

So, one share of GBTC equals how many bitcoin? Coincodex has this:
1 GBTC to BTC
0.00087667 BTC
But it fluctuates. I would expect that with a big bid/ask spread, but it's 2 cents.
And the share to BTC ratio should be stable at a specific amount.
It should be the CoinDesk XBX Index:
...shares are designed to reflect the value of BTC held by the Trust, determined by reference to the Index Price, less the Trust's expenses (1.5% annually) and other liabilities (no idea).

[Lokotony]

At least it's green, atm.

[KICK1]

420 “Plenty of room at the Hotel California!” $GBTC

[KICK1]

Today 420 PPP $GBTC $BTC

[Lokotony]

The stars aligned to make this expected $$$$ day, pure trash!

[FooBarAndGrill]

Whipsaw today. It will be a crazy balancing act for all the new ETFs.

[Bearslayer]

My etrade has already switched over. It will happen .

[Lokotony]

Does that mean the GBTC that I have in Fidelity doesn't count, or does it just take some time.....BC, I'm still not seeing the increase of price....just the quote

[Bearslayer]

This thing is gonna do daily volume by 10:15.

[Bearslayer]

Do a search. They added a second Gbtc but shows Amex.

[FooBarAndGrill]

Oh s#it IHUB is still looking at OTC.

[Bearslayer]

Never mind. Now it’s lit up like a Xmas tree.

[Bearslayer]

My level 2 shows one selling MM and four bidding MM’s.

[boo boo]

How many 'Johnny Come Lately' are waking up to this news being mass broadcast this morning?

Psyops?

Hundred Billion Dollars just sitting on the sidelines waiting to get in!

[weedtrader420]

New York Stock Exchange GBTC💰💰💰💰💰💰💰💰💰

[weedtrader420]

GBTC💫 Hotel California🎸

[weedtrader420]

WOOHOOOOOOOO

[Lokotony]

42.27 ASK!!!!

[Bearslayer]

X/Twitter Post:

Live Address:

We expect $GBTC will commence trading as an ETF tomorrow, January 11, capping off over a decade of careful planning and hard work.
For important info & disclosures, visit: https://t.co/nayoA6agcZ

-
Grayscale Bitcoin Trust (BTC) (the “Trust”) has filed a registration statement… pic.twitter.com/hkDwn6vlo1

— Grayscale (@Grayscale) January 11, 2024

Text: We expect $GBTC will commence trading as an ETF tomorrow, January 11, capping off over a decade of careful planning and hard work.

[FooBarAndGrill]

OTC to NYSE. Settlement is a thing.

[Lokotony]

Question: So this is converting to the actual ETF and is that why the price is halted? IF so, very happy to have gotten in when I did. I'm feeling like these ETFs are going to open like IPOs, go way up and then way down.

[trunkmonk]

GBTC has converted to a Trust. They want in on the 2024 sucker bubble too. Wow, everything is repeating from junk bond days.

[weedtrader420]

GBTC stock says zero 😂🤣😂 when does trading start?👏

[KICK1]

Bitcoin Hash Run! $BTC $GBTC 2024!

[KICK1]

WooHoo!

[KICK1]

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[Renee]

GBTC moved to the NYSE ARCA from the OTC:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[KICK1]

Grayscale Investments Receives SEC Approval to Uplist Grayscale Bitcoin Trust to NYSE Arca as a Spot Bitcoin ETF $GBTC $BTC https://www.globenewswire.com/news-release/2024/01/10/2807520/0/en/Grayscale-Investments-Receives-SEC-Approval-to-Uplist-Grayscale-Bitcoin-Trust-to-NYSE-Arca-as-Spot-Bitcoin-ETF.html

[boo boo]

45,894 X .00089435 = 41.04

Closed at 40.50. Upside is very limited .54 cents to reach true Net Asset Value.

At the time of posting.

[boo boo]

Congrats Board:

Grayscale Approved

[SilverKnightLV]

1.5%...going to be lot of outflows. People are cheap. 0% for 6 months for many, and much lower fees. BUT, the issue is also liquidity and how tight the spread is. But I'll hang with GBTC for a month.

[Bearslayer]

Will be interesting to see how this translates to btc by percentage once uplisted. I’m expecting a serious run here.

[KICK1]

Cboe approves listing of spot Bitcoin ETFs from multiple asset managers $BTC $GBTC https://cointelegraph.com/news/cboe-approves-listing-bitcoin-etfs-multiple-asset-managers