Trading at a 31.5% discount to NAV
That is supposedly their goal.
But then they wouldn't get their locked in fund fees.
There is no redemption mechanism like mutual funds or even ETF's.
They are not operating in the investors interest.
They should just wind down these trusts and give the money back to investors. It would be like a 100% move from these levels
I was going to say, "they can't"
A reply I got
It was nice speaking with you on Monday.
Senior members of the firm meet on a weekly basis to discuss our products and ways to improve them. I communicated your concerns to the team.
We have recently engaged in efforts with regulators to help push for SEC approval of a spot bitcoin ETF, which would allow market makers to redeem shares and likely bring the market price closer to NAV. We have also publicly announced our intention to convert OBTC to an ETF when the SEC changes their regulatory stance.
If you have any further questions let me know and I’d be happy to answer them.
Mike Meszaros | Associate
Description automatically generated with medium confidence
203.654.7081 | firstname.lastname@example.org
You can set up a 30 minute meeting with someone from investor relations.
Demand they buy back shares to reduce the discount to NAV
Everyone should call up investor relations and tell them to buy back shares !
I’ve been thinking that…. Would definitely show some support for the fund trading at this brutal discount
If I ran this fund I would be buying back shares. Same with GBTC.
I don't know how they justify not buying back shares.
Mega discount going on now
Outperforming today fwiw...
I just hope this can convert to an ETF eventually.
Yeah I agree. I’m longing this in retirement account so near term I don’t really care about the pps… just interesting how it gets a fraction of the GBTC volume but if BTC keeps going up this will follow as well
Historically in bull-markets $OBTC,$GBTC & miners outperform.
I don't have a crystal ball, but I'd guess in the next euphoric phase $OBTC will trade at a prem to NAV.
Miners may also outperform both, as they're considered leveraged plays.
Finally, you can always trade $BTC or $ETH futures, which offer margin & tax advantages.
However you roll, good luck!
Yeah… I just hope we can close the gap on NAV discount
Even when BTC goes up OBTC goes down
Trading significantly below NAV… added more here pps should catch up imo
LOL that's hilarious.
You could say that lol
So we’re around $20 value ... per share
OBTC premium-to-NAV at tradingview.com:
Enter this formula in the quote box (will need to adjust the fraction when it changes on the OBTC page)
GBTC and ETHE are both currently selling at a discount to NAV fwiw.
Volume speaks louder then words and we should start to see higher volume here as the stock gets liquid.BTC stole Gold's thunder and Biden/Obama policy's will cause inflation which will play into BTC not GOLD and that should give this a push
Do the math:, considering Coinbase sells .0003412 Bitcoin for $21.64, this amounts to about an 11 percent premium.
While this is high, when GBTC first started it was much, much higher.
GBTC NAV premium:
As you can see GBTC has sold for 100 percent or more premium over NAV, but its, amazingly, at a discount now.
Great link. It validates what we been saying about this ticker. It actually could draw more institutional money from GBTC with the premium. Their lock up period is twice as long as GBTC though. 1 year instead of 6 months. Still keeping an eye on this one.
OBTC is new ticker, it needs a bit to find it's medium, as long as bitcoin does good this will run too, i'm loaded at around 32 with no worries, it's acting like BITW did and that one's working up 57% for me
What pushed OBTC the only crypto related down today? Why???
It has a small float which makes it more in demand as well. Small shares outstanding. If you invest get in and get out when you get a decent profit.
People are connecting that the value of the bitcoin in trust is not like GBTC. They are counting on trust adding more and Brice of bitcoin going up which raises the NAV. It’s a risky bet however it will go up more before it goes down however. Lol.
Thank you, I did pass elementary math lol. This huge spike today makes no sense to me though. It's like people doing no DD at all and just buying and bitcoin ticker. I did add a follow as I see you like GBTC also.
smooth move-it wasnt directed at you--a general comment to anybody looking at this train wreck---tmonkey-
WTF part of I sold dont u understand