Grayscale Bitcoin Trust (GBTC)

[Strategyone]

This will be fun to watch.

[FooBarAndGrill]

How will this all work?

Grayscale will be unloading some of their $25B stash of Bitcoin. The proceeds will purchase and delete $GBTC shares to bring the share price up to the required par value.

In the meantime, the other ETFs will be loading Bitcoin and creating shares as cash funds flow in.

The predicted $100B cash inflow will tie up 10-15% of all available Bitcoin.

[FooBarAndGrill]

Bloomberg is a Beliber!

Bloomberg Terminal: The BTC ETFs are expected to be approved today between 6pm-8pm (New Jersey Time) pic.twitter.com/xoGWjNUMfD

— Crypto Crib (@Crypto_Crib_) January 10, 2024

[FooBarAndGrill]

$GBTC Stacking Sats

[Lokotony]

Hopefully this stunt doesn't delay the approval, as we're waiting for this to rock BTC. I just want to get on the other side of this. I have lots of mining stocks as well and they are suffering.

[FooBarAndGrill]

The SECGov X account posted a false (pre-mature?) announcement that the $BTC ETFs had been approved.
Disclaimer:

The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

— U.S. Securities and Exchange Commission (@SECGov) January 9, 2024

[boo boo]

Grayscale has competition now. This is probably why they want paid daily.

Grayscale has priciest product

I'd come back if there was a substantial discount. I also have a Coinbase account that I can manage on my own 24/7, avoiding third party risk. I no longer have a broker fee and 'managed account' fee. Good Luck to all on this board!

[boo boo]

What if GBTC's chart looks like LTCN's in the coming day(s)?

[KICK1]

Let’s Rock! $GBTC 420

[weedtrader420]

GBTC$

[FooBarAndGrill]

Viewing the 'Seed' column. $GBTC dwarfs the other contenders.

[KICK1]

420! PPP Same Let’s Go

[weedtrader420]

GBTC⚖️ loaded the dip SEI $2 TARGET

[KICK1]

Bitcoin 420 PPP

[NASA11]

Some people saying don't overnight because of bad news?

[Cosa]

300% gain and it's not even done. Full Bull Market in effect!!

[weedtrader420]

BITCOIN 💫 🫲🤑🫱💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰

[weedtrader420]

WOOHOOOOOOOOOOOOOOOOOOOOOOO

[Lokotony]

I feel like Grayscale is a shoe-in. Hope you are wrong!

[Lokotony]

I'm in. Let this be profitable!

[FooBarAndGrill]

Form-t trading $38

[KICK1]

Charts and FARTS! $BTC $GBTC Premium Bitcoin M Division Apes!

[SilverKnightLV]

They've been raping us with fees from day one. My plan is to wait for the ETF pop and sell. And buy the ETF with the lowest fee. So it would be almost instantaneous in my brokerage account.
I also have an Alto crypto IRA, but the transfer takes a while and want my sell/buy to be quick.
The only issues I see with all these ETFs is how much BTC each share represents. Hopefully all would be 1000th BTC, so easy to track if there's some representative crap going on.

[KICK1]

BMW… $BTC $GBTC Bitcoin Apes

[KICK1]

The fake news tries so hard haha 420

[KICK1]

I like both and I’m buying both coin and tickers in Fidelity now… good times $GBTC $BTC

[KICK1]

I like that!

[boo boo]

That's fine, but this proposal is not about that. It's about getting paid daily instead of once a month. And, they're being paid with Bitcoin. They do not redeem from base value of GBTC. Seems to me the shareholder's are being ripped off. What's your take?

Couple things I'd like to highlight from their proposal:

The Trust pays the Sponsor the Sponsor’s Fee in Bitcoins

Under the terms of the Trust Agreement, a Shareholder shall be deemed to consent to each proposal if such Shareholder does not, within twenty (20) calendar days of the date of this Consent Solicitation Statement, notify the Sponsor in writing that the Shareholder objects to either or both of the proposals

So these greedy pricks are being paid based on the price of Bitcoin, not the value of GBTC. This pisses me off! I don't care what anybody's point of view is, especially if they are in disagreement with me.

[FooBarAndGrill]

Monthly :: Daily. I'm just saying they've been updating the published bitcoin-to-share ratio every business day for years. I believe the ratio was around 0.001 after the split.
BTC / SHARE https://www.grayscale.com/crypto-products/grayscale-bitcoin-trust

[boo boo]

It's dated December 18, 2023. And for this reason it is new. Since I'm the one to bring it to the board's attention it should be discussed not dismissed. Have a great weekend. The 'window' is closing. Hope there's a favorable decision, but I quit smoking hopeium! Sticking with the gunja!

[FooBarAndGrill]

Jan 2 BTC / SHARE 0.00089489
Jan 4 BTC / SHARE 0.00089464
Jan 5 BTC / SHARE 0.00089459

[FooBarAndGrill]

This is nothing new.
For example,
Jan 2nd BTC / SHARE 0.00089489
Jan 4th BTC / SHARE 0.00089464

[boo boo]

If I read this correctly, they'll be paid 'daily' rather than 'monthly'. Question is why???

The following are highlights of the two proposals contained in the attached Consent Solicitation Statement:
• Providing that the Sponsor’s Fee be payable to the Sponsor daily in arrears – Currently, the Trust
Agreement provides that the Sponsor’s Fee is payable to the Sponsor monthly in arrears, and the
Sponsor has discretion regarding when it will instruct the Custodian to withdraw Bitcoin from the
Bitcoin Account equal to the accrued but unpaid Sponsor’s Fee. With the changes we are seeking, the
Sponsor’s Fee would be payable daily in arrears and the Sponsor will maintain the discretion to
instruct the Custodian to withdraw Bitcoin from the Bitcoin Account equal to the accrued but unpaid
Sponsor’s Fee; and
• Permitting a portion of the Trust Estate to be held from time to time in one or more omnibus
accounts in order to facilitate the creation and redemption of Shares – This proposal will allow the
Trust to utilize the prime brokerage services of an affiliate of the Custodian.
I note that none of these proposals are prerequisites to the Trust receiving approval or operating as an exchangetraded fund (ETF), but they will nonetheless provide operational efficiencies that we believe are beneficial to the
Sponsor and Trust.
GBTC shareholders will not pay any additional fees as a result of the proposed amendments. We hope
you share our view that these amendments both modernize and simplify Grayscale Bitcoin Trust (BTC) Shares for
the ultimate benefit of current and future GBTC shareholders. The board of directors of Grayscale Investments,
LLC recommends that you vote “FOR” the two proposals.

Filed 12/18/2023. Here's the link:

Schedule 14-A

Provide operational efficiencies that are ABSOLUTELY beneficial to the sponsor and trust. No doubt!!!

[boo boo]

Other than the reasons I've listed, because of this corrupt POS:

Authorized Participant

I doubt that Grayscale will ever get an approval. JPM and Blackrock own Gensler. They'll decide and they want to 'own' this space. It's a 'rigged' system, IMHO!

[lumpina]

Do you own ETHE as well? I do, but GBTC seems to be the better road right now. What say you?

[FooBarAndGrill]

Pre-market $37.50

[FooBarAndGrill]

Par value: $40.71
BTC / SHARE 0.00089489
BTC $45,490

[SilverKnightLV]

Why bail? It'll be tied to BTC price soon enough and it's already been announced that the ETF fee will be competitive.

[boo boo]

Board Resignations. Kathy Woods exodus. Looks like BITO being favored. No mentions on this board. Not surprised! I own very few shares of GBTC at this point and I'll be letting them go during the 'approval window'. Time to bail???

[tiprina616]

Bitcoin Cash will run like bitcoin back in 2017. BCH is 2 cycles behind bitcoin price wise. In 2013 BTC topped
around 1200 and in 2021 BCH topped around 1200.

[KICK1]

Thank Y’all! $GBTC $BTC Premium Bitcoin Apes

[KICK1]

Cool

[tiprina616]

https://solareum.net

[KICK1]

Bitcoin

[KICK1]

FooBarAndGrill Posted This, Thank You When and if the SEC approves a spot Bitcoin ETF, and allows GBTC to uplist to NYSE Arca, what do GBTC investors have to do?

Edward: GBTC investors do not have to take any action. When investors look at their GBTC holdings following the uplisting to NYSE Arca, they will simply see the shares listed on NYSE Arca instead of being quoted on OTCQX. GBTC will retain the same ticker symbol (GBTC) and the same CUSIP, and investors will continue to be able to buy and sell shares of GBTC at open-market prices.

https://www.grayscale.com/blog/legal-topics/qa-what-happens-when-gbtc-uplists-to-nyse-arca-as-an-etf

[KICK1]

Bitcoin fees hit 20-month high as miner revenues match $69K $BTC price $GBTC https://cointelegraph.com/news/bitcoin-fees-20-month-high-miner-revenues-match-69k-btc-price

[KICK1]

$GBTC

[KICK1]

Word For Word! I’m The Truth! $BTC $GBTC Premium Bitcoin Gas

[KICK1]

Bitcoin BackFire!

[KICK1]

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