Is Bitcoin Price Really Influenced by the Grayscale GBTC Premium?

Cointelegraph

Published Jul 22, 2020 05:02PM ET

Updated Jul 22, 2020 08:00PM ET

Recently the Grayscale Bitcoin Trust Fund (GBTC) premium to net asset value (NAV) reached its lowest level since November 2018. This premium shows that traders are paying more for GBTC shares than the underlying Bitcoin (BTC) quantity held by the fund.

This difference is caused mostly due to retail investors inability to purchase shares directly from Grayscale Investments, whose funds are aimed exclusively for accredited investors.

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