Grayscale’s Bitcoin Trust Premium went negative for first time since launch

posted 9 months ago
Grayscale's GBTC premium turned negative for the first time after its launch in 2013. The aforementioned premium represents an “overpayment” on behalf of mostly institutional buyers that seek Bitcoin exposure, while remaining compliant with regulations.

The drop in the premium may have been caused by increased selling from accredited investors realizing their premium or a lack of demand for GBTC from non-accredited investors at this price. This lack of demand for GBTC may, in fact, have been caused by increased competition in the market, driving demand elsewhere.
Tags: bitcoin, blockchain, news, opinion