Osprey Bitcoin Trust (OBTC)

[Agoura Guy]

I WISH I KNEW ABOUT THIS STINKING POS IN AUGUST..... I WOULD HAVE SHORTED THE CRAP OUT OF IT!!!!!!!!

ANYTHING ASSOCIATED WITH WORTHLESS DIGITAL TOKENS IS A SCAM!!!!!!!

[Toofuzzy]

Trading at a 31.5% discount to NAV

Toofuzzy

[price_and_volume]

Thoughts on today's 12% hit?

$BTCUSD was flat, $GBTC pretty flat.

Fwiw, $OBTC was up 50% over the past 10 days

[Toofuzzy]

That is supposedly their goal.

Toofuzzy

[Toofuzzy]

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.

Toofuzzy

[MattyTrader]

Would love this to get approved as a spot etf but based on current events, I doubt that happens anytime soon if ever

[MattyTrader]

They should just wind down these trusts and give the money back to investors. It would be like a 100% move from these levels

[price_and_volume]

I was going to say, "they can't"

call up investor relations and tell them to buy back shares !

Funds operate differently than company stocks, and share-issuance & redemption etc are a different kettle of fish with funds.

$GBTC suffering same discount to NAV, but somehow gets away w/ that 2% mgmt fee compared to $OBTC's .5%

I've held both in retirement accounts but its been about a year.

Always watching for the turn tho...

[Toofuzzy]

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.



Regards,

Mike



Mike Meszaros | Associate



Shape

Description automatically generated with medium confidence



203.654.7081 | [e-mail]

[Toofuzzy]

You can set up a 30 minute meeting with someone from investor relations.

Demand they buy back shares to reduce the discount to NAV

https://outlook.office365.com/owa/calendar/[e-mail]/bookings/

[Toofuzzy]

Everyone should call up investor relations and tell them to buy back shares !

Toofuzzy

[MattyTrader]

Yeah… this NAV discount is outrageous. They need to address the fear the FTX debacle has played on this… confirm security of trust for OBTC holders

[price_and_volume]

Fugly today

Woof…

[MattyTrader]

Woof…

[MattyTrader]

I’ve been thinking that…. Would definitely show some support for the fund trading at this brutal discount

[Toofuzzy]

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.

Toofuzzy

[MattyTrader]

Mega discount going on now

[price_and_volume]

Outperforming today fwiw...

[Toofuzzy]

I just hope this can convert to an ETF eventually.

Toofuzzy

[MattyTrader]

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

[price_and_volume]

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!

[MattyTrader]

Yeah… I just hope we can close the gap on NAV discount

[price_and_volume]

Tracks $BTC pretty well tbh...

It ain't perfect of course.

[MattyTrader]

Needs volume…

[MattyTrader]

Even when BTC goes up OBTC goes down

[price_and_volume]

Quiet board, so here’s something to watch:

#Bitcoin https://t.co/y0XPtuXOWa

— naiive (@naiivememe) July 16, 2022

Literally made me lol.

[Toofuzzy]

Just switched from GBTC to OBTC

lower fees

Toofuzzy

[umiak]

[MattyTrader]

Trading significantly below NAV… added more here pps should catch up imo

[MattyTrader]

Well, got a nice chunk now.. lol...

[MADDSTACKER]

why say that

[Cosa]

LOL that's hilarious.

[justbecause516]

You could say that lol

[MADDSTACKER]

So we’re around $20 value ... per share

[justbecause516]

BTC gonna break $60k and we're off to the races,nice to have caught the bottom here in the 19's

[price_and_volume]

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)

OBTC/(BTCUSD*0.00034123)-1

GBTC and ETHE are both currently selling at a discount to NAV fwiw.

GLTA

[justbecause516]

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

[chessmaster315]

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:
https://ycharts.com/companies/GBTC/discount_or_premium_to_nav

As you can see GBTC has sold for 100 percent or more premium over NAV, but its, amazingly, at a discount now.

[Cosa]

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.

[Tenured]

Everyone should make this page for NAV and such.

https://ospreyfunds.io/products/

[Cosa]

.0003 BTC per share. $57k = $19 per share. A slight premium makes sense. But still a little overvalued in my opinion. Looks like the market agrees as bitcoin nearing all time highs and this has not budged. Invest Wisely! good luck!

[Chartmaster]

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

[TruckingAngler]

What pushed OBTC the only crypto related down today? Why???

[Chartmaster]

Chartmaster enters the Osprey Bitcoin Trust today!!! New Bitcoin trust down today while BTC is rallying, great buyin OP today here imo!!!

[Tenured]

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.

[Tenured]

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.

[Cosa]

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.

[tmonkey]

smooth move-it wasnt directed at you--a general comment to anybody looking at this train wreck---tmonkey-

[threewheeler]

WTF part of I sold dont u understand

[tmonkey]

50$???????????? im gonna by a few coins and begin CRYPTOAD INC....WHAT A CON-----look at brphf or khrif if you want a better shake!-----tmonkey