Grayscale Capital changes strategy in offering zero-premium GBTC


  • GBTC shares are now on a special offering as Grayscale Capital switch up their strategy.
  • The private placement window has been reopened, allowing accredited investors to buy shares at face value (rather than paying a premium on secondary markets). 

 

Grayscale Capital, the producer of exchange-traded shares based on leading digital coins, appear to be shifting its strategy on inviting institutional investors. There has been some changes with its GBTC shares, which are on a special offer, with their Bitcoin (BTC) component at Native Asset Value (NAV).

Shares of the Grayscale Bitcoin Trust (GBTC) typically are sold based on current demand. This also means some investors have in the past been willing to pay a premium compared to spot BTC prices. However now Grayscale aims to boost demand by offering cheaper exposure to BTC.

GBTC reopened its private placement window, which allows accredited investors to buy shares at face value (rather than paying a premium on secondary markets). GBTC holds around 238K Bitcoin. The last time window opened (July), it saw 14K in inflows, about 8 days of miner issuance. A lowered premium is seen as a loss of demand and a negative attitude to BTC. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: What next as BTC/USD tests $8,600?

Bitcoin price has continued to face increasing selling activity. The weekend session was not different as seller domination continued. BTC/USD extended the bearish leg further below $9,000 to the extent of testing support at $8,600. 

More Bitcoin News

ETH/USD recovery sabotaged above $200 as consolidation sets in

Ethereum recovers slightly to settle above $200 following a dip to $190 support. ETH/USD could entertain a sideways price action in the near term according to both the RSI and the MACD.

More Ethereum News

XRP/USD bulls looking forward to a falling triangle breakout, all eyes on $0.21

Ripple price bounces off last week’s support at $0.19 but recovery stalls under $0.1950. XRP/USD is grinding towards a possible falling triangle breakout, targeting $0.21.

More Ripple News

Cryptocurrencies may weaken US dollar dominance

The adoption of digital currencies may undermine the leading positions of the US dollar in the global financial system, according to JPMorgan analysts. The US risks losing its dominant position in the global financial system.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast

BTC

ETH

XRP