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gbtc discount chart pepe unchain Bnb Eth XRP aave Bitcoin Bonk

Why is GBTC trading at a discount?

GBTC has traded at a discount to its bitcoin holdings since February 2021. The situation dramatically worsened last year in the aftermath of FTX blowing up. In November, the lending arm of Genesis halted customer withdrawals, and the GBTC discount increased to 43%.

Why did grayscale Bitcoin Trust (GBTC) hit a record-high discount rate?

Grayscale Bitcoin Trust (GBTC) shares hit a record-high discount rate relative to the price of bitcoin ( BTC ), pushing past 50% for the first time after the U.S. Securities and Exchange Commission reiterated its reasons for denying an application to convert the world’s largest bitcoin fund into an exchange-traded fund.

What does GBTC stand for?

This chart plots the average weekly premium in the total value of Bitcoin Trust shares (GBTC) to the Net Asset Value (NAV) of the Trust holdings of Bitcoin. See how the weekly premium of the Greyscale Bitcoin Trust has developed.

What is GBTC & BTC premium?

The percent difference between the market price (GBTC) and native asset value (BTC). Higher the premium indicates the U.S. bull market. The percent difference between the market price (GBTC) and native asset value (BTC).

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