Grayscale Bitcoin Trust (GBTC): GBTC!+47% since [April 2nd] breakout

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ApollyonZ

Re: ApollyonZ post# 18465

Friday, 05/10/2019 2:18:23 PM

Friday, May 10, 2019 2:18:23 PM

GBTC!+47% since [April 2nd] breakout–BTC +28%

..GBTC has lost some market share dropping to under 24 percent compared to over 50 percent when it comes to institutional products.
..Why Is The GBTC Premium Rising?

The price of one GBTC share is set at 0.00098409 BTC. At the time of this writing, this equals $5. Given the current price of Bitcoin $6350.19 +0.95%, this means that GBTC buyers are happily paying a premium worth around 37 percent. Moreover, there’s also an additional 2 percent annual fee on top of the premium.

Back in February, when the premium was almost identical, the head analyst of Fundstrat Global Advisors, Tom Lee, commented on the matter, explaining that the rise in premium is a sign of institutional net buying.

https://bitcoinist.com/gbtc-premium-rises-47-above-bitcoin-price-signalling-institutional-demand/

Given the ingroup connect (Cartel-SE-C-etc.) IMO it is no wonder Gbtc gets away with usurping excess fees.

GLTA