The biggest Bitcoin fund just hit a record -35% discount — A warning for BTC price?
Grayscale Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets.
On Sep. 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data.
GBTC discount versus spot price. Source: YChartsGBTC daily price chart. Source: TradingViewGBTC 12-month adjusted Sharpe Ratio. Source: PortfolioSlab.comFund flows by provider. Source: CoinSharesNDAQ versus BTC/USD daily price chart. Source: TradingView versus US 10-year and US 2-year Treasury yields. Source: TradingViewBTC/USD eight-hour price chart. Source: TradingView/Capo of Crypto
