GBTC

Thomsbluebeenie

Even merely switching to another BTC ETF would save you substantially on fees; all of them are quite a bit lower than GBTC

Thomsbluebeenie

Are you subject to capital gains taxes? GBTC stinks because the fee is so high (1.5% per year), but you should weigh that against the cap gains hit you take up front.

Accord-ing_25_Tim

I did exactly the opposite. Held GBTC for a while, but sold for actual BTC once the ETFs received approval because I wanted my BTC to be solely MY BTC

Squirmme

Mstr is a stock and msty is an etf that follows mstr. Avoid those for now Stick to IBIT, GBTC, FBTC. For eth, FETH, ETHA. These are solid ETFs. You only need 1 of each type. Pro tip: when you start looking at etfs that track spot price, you need to look at 2 things: fees and nav. Fees are just what they charge you just for owning it. Nav is essentially how far the price of the etf has deviated from its true value when compared to spot price. The ones u listed are safe from bad nav so you’ll be fine

cyger

Sure, why not, in my IRA, I can already by various crypto ETFs. Even 10 years ago I could own GBTC in my IRA (and did)

cyger

Thanks for reminding me, it was in August 2015 that I bought my 1st GBTC shares in my IRA. And I've actually held on all this time. It is amazing what a 400x gain will do to your IRA. Of course I only put a tiny % of my assets into it at the time - but just enough... Like no one was recommending Bitcoin back then, especially anyone in the tradfi world.

Ok-Sympathy9768

A lot people didn’t hold.. but I remember I kept adding to my bitcoin “exposure” ( I have never actually owned bitcoin) during the FTX debacle, and a couple of other major pullbacks…but when it crashed hard during FTX.. I had just got into this mindset of “fuck it”, if goes to zero then it goes to zero, and I actually added to my BTC position when BTC bottomed/lowest point. I had an experience with another investment that I had pulled out of earlier in the year (car company NIO) and totally regretted it.. I wasn’t going to let that happen with my GBTC position .. that’s why I survived not pulling out.

Ok-Sympathy9768

When is enough enough? It’s an honest question? At what point do you stop the accumulation phase and focus on enjoying the fruits of your good decision to invest in bitcoin?? I ask this question because I never bought bitcoin Because i didn’t understand the tech part of it… But I did start my accumulation of bitcoin “exposure” at around the same price point as you through GBTC in a tax advantaged investment account….I am trying to figure out when enough is enough… it’s crazy to say now but there was some hesitancy to drop 300k-500k to get to 100 bitcoins 6 or 7 years ago( back then that was a lot of money and bitcoin was very much a risk and highly volatile and institutional investors were not a thing)… so a more realistic goal was to get to exposure equal to 21 bitcoins.. i guess I am asking what is the goal for this “cycle” of investors where feel they have enough bitcoins or bitcoin exposure to retire? Is it still 21, or is reduced down to 15 or 10 bitcoins? Or is it now 2.1 bitcoins is enough??

Own_Sky9933

They aren’t that bad. Before the ETFs GBTC was the only way to get exposure. It was a closed end trust and the fees there were 2%. That was huge.

ImmediateDust9721

The price especially drops during the day when the funds are trading. [https://www.theblock.co/data/crypto-markets/bitcoin-etf](https://www.theblock.co/data/crypto-markets/bitcoin-etf) Note the net flows between each fund. GBTC has been constantly selling. IBIT has been constantly buying. [https://www.sec.gov/newsroom/press-releases/2025-101-sec-permits-kind-creations-redemptions-crypto-etps](https://www.sec.gov/newsroom/press-releases/2025-101-sec-permits-kind-creations-redemptions-crypto-etps) Will be relevant in maybe half a year.

Secret_Operative

I've been growing my Roth and my IRA since early GBTC days with great success. More years to go before 59.5. But sure, assume I don't understand my own investment accounts.

GeneralZex

I have Bitcoin in cold storage. I also own GBTC and iBit in retirement accounts. ETFs have a place, but they are not a replacement for actual Bitcoin.

vattenj

I remember, when grayscale's GBTC were traded at a premium, it is a similar logic, but then later on it started to trade at a discount. I don't remember what triggered that flip, but it worth studying to project MicroStrategy's bond performance

Discokruse

Buy-write strategy OoTM, 30 DtE, on GBTC or FBTC.

SmoothGoing

BTCC fund holds GBTC shares and sells options contracts for them. With the money they get from buyers of those contracts they pay out a dividend to shareholders. This dividend will vary month to month. Sometimes great sometimes not as much. Performance of this ticker is some layers deep away from bitcoin's price but it's definitely dependent on it. You're not buying bitcoin in any sense but rather cashflow from contract sales. Fund is only a few months old so interest is low, total assets is paltry $15 million, and trading volume is crap. Getting in or out significant volume might not be easy. An actual spot bitcoin ETF holds bitcoin, usually by third party custodian. You're still not buying bitcoin but you are buying more directly linked exposure to the price. The fund actually does own BTC and share price generally will perform closely in step with price of bitcoin. There is no cash flow in these, so no dividends. Most such funds do charge an annual expense ratio. Some more than others. BTCC is 0.66%. Big spot ETFs include IBIT and FBTC, both charging 0.25%. They hold tens of billions dollars worth of bitcoin and trading volume is huge. Very liquid stuff to get in and out even for day traders. The upside is of course these can be traded in tax advantaged retirement accounts and tax reporting is much easier since the broker will calculate the cost basis and gains for you.

ProfessorThom

When I retire. I bought into GBTC (about seven BTC worth) with some play money in an IRA back in 2015, along with nine other investments that went to zero within a couple of years. I'm a buy and hold kind of guy for everything, so whatever's in there five to ten years from now will go to something absurdly conservative. For now, it sits there.

stock_momma

Sold all of my traditional stocks for bitcoin ETFs when they were approved (had GBTC long before approval) Has been the best decision, but do what’s best for you

MattBonne

GBTC has the highest ER, not worth it.

stock_momma

I would suggest FBTC, GBTC, BTC. I use fidelity

IAteUrMama

Went all in during IBIT launch. Best. Decision.Ever. I was sweating the first few months because of GBTC, but looking back, it was a great decision.

Turin1973

I went top heavy into XRP. Got too many people in my ear about it to ignore. Idk what’ll happen in the end but I’m willing to gamble. And I bought some LTC ETC ADA and TRX. For ETF’s (and I know there’s some overlap), I’m in SPY QQQ VOT AAAU SLV ITA XLI SCHD VBR VOE and I’m going to start buying GBTC as part of the rotation. And then the only stock I buy is BRK/B. It’s kind of like an ETF

eastvenomrebel

I'm not too certain people will be more inclined to buy it at 1million. I think there's a bit of psychological factors at play when you're buying a fraction of something at that price. If there's was a price split like companies do with stocks, then sure.. Most people find it hard to look past the price cause if they're not buying into it at 100k, they're likely not buying it at 1mill. Of course there are other factors aside from the sticker price. Like, oh, its too high! Will it crash more? etc. Most people simply don't have the time/care/interest to look into Bitcoin. I think the most important factors (aside from the price going up) are ease of use, security, and accountability. I agree with you institutional adoption will make it much less scary for most people, but then they'll likely want a buffer for safety and accountability and want to go through a medium like IBIT or GBTC or something of that extent. cause frankly, holding a large sum of money yourself can be a daunting task for most people. But of course, there needs to be tools/products that can help facilitate what keep most people from buying. TLDR: maybe

Nice-Range-7653

You can 100% buy FBTC through the Fidelity BrokerageLink option. You have to acknowledge about 6 different warnings about volatility and risk but once you do, you can buy whatever you want basically. You could even buy GBTC years before the ETF was approved.

KlearCat

First I set limit orders Second, I front ran the ETF approval by buying GBTC at a huge discount with my entire 401k well before the ETFs were approved.

WYLFriesWthat

Yeah I’m selling all my GBTC that I’ve been holding since $16. Gonna buy a minivan for the fam (loaded Sienna). Last year when the ETFs came out, I put all the cash in my brokerage account in FBTC. Now that’s LTCGs, so I’ll start scaling out at my low-cycle-high target. But the HODL stack stays in deep cold storage.

spid3rfly

I ended up cutting the contribution to what they match. The excess gets spot bitcoin. I've tried to convince my employer for years to find a fund that contains GBTC(before mstr), MSTR(before the ETFs), and last year I started bugging them about the ETFs... They just laughed at me. 🙄😅

RANEDJ

I’m HAlVING Fun! $BTC $GBTC ;>

RANEDJ

17000 GBTC too

RANEDJ

100 Million Sats Type Of away $BTC and $GBTC Mr CEO :-)

moonRekt

I bought GBTC when it was at 40% discount, sold it when it went spot and discount evaporated, did same with ETHE, GDLC, now I’m out of discounted stuff to buy so all in on IBIT COIN and ETH in our retirements

RANEDJ

118K $BTC $GBTC 120K On Deck! PLUR :-)

whammy_time

Vanguard doesn't sell e.g. BITO or GBTC but does offer MSTR. But otherwise, yeah.

ask_for_pgp

i think if FTX wouldnt have blown up, we would have gotten 100k 2021; it still would have crashed to similair lows we had. perhaps 20k would have held. 200k i dont think we should have had last year. ETFs always needed time. the GBTC winddown (genesis bankrupcty) was also a major drag. perhaps 100k reclaim should have could have happend eventually around 2024 yes. now we are the cusp of next supply shock and we cleaned up all those bad players. we are onboarding new scammers though and some of them will blow up in the next bear again. but i think first we squeeze to 500k.

Doomsdayer

Higher fees impacted GBTC, but also they had a spin off of BTC from GBTC in July 2024 - so you need to add that back into the GBTC return to get an equal comparison or wait until August for a 1Y chart after the 7/31/24 spinoff date. Returns for 8/1/24-7/4/25 from yahoo finance are much more in line; 63.32% GBTC, 65.42% BTC, 65.32% FBTC, 65.14% IBIT, and bitcoin USD 67.19%.

Doomsdayer

Gbtc had a significant discount to NAV leading up to the conversion to an ETF from a trust (-40% in 2023), but 0% as of January 2024 when conversion happened. Higher fees impacted GBTC, but also they had a spin off of BTC from GBTC in July 2024 - so you need to add that back into the GBTC return to get an equal comparison or wait until August for a 1Y chart after the 7/31/24 spinoff date.

Forexisboring

GBTC has a much lower float of volume, so when it dips lower than the trend of BTC it’s likely influenced by someone selling a fair amount of their GBTC holding.

DarrinEagle

various. EZBC (Franklin), GBTC (legacy expensive), IBIT. Also BITX (2x)

Inevitable-Waltz-889

I did this when GBTC was trading at a huge discount.  Basically got a 40% gain just off the ETF conversion.

Solnse

I converted my 401k to a Roth IRA when I left my software engineering job and put it into GBTC. It's up 900% in just a few years. I'm glad it's in a Roth IRA.

Ok-Sympathy9768

Bingo! This was me! I have never owned a bitcoin, or sats …and it’s not for lack of trying either ..but there were to many “what’s and if’s” at the time ..long story short… I took the orange pill long time ago and really believed in Bitcoin but I didn’t trust myself to self custody and instead bought GBTC trust shares to gain exposure instead; because it was super easy to do it from the security of a tax advantaged retirement account. I think the masses will follow a similar path and they may also need a few halvings under their belt before taking the next logical step. ETFs make the path to mass adoption easier because a majority grandmas and grandpas are not gonna be cold storing anytime soon; they will however invest in a ETF….eventually it does come full circle and now after a few halvings that the investment has grown to a point where it’s like I really should know more about the intricacies of what I invested in, like i should be setting up a node, and running it to help support the network, and maybe even learning about cold storage and those utxo things because I really don’t know about it … it’s a process … we are still way early! When people ask about BTC now..I always direct them to the ETFs first and tell them just get some exposure first because the orange pill is a big horse pill to swallow.

brad1651

I'm the last ten trading days, the flow out of GBTC is only 0.5% inflow into IBIT (11.9m vs 2,445.9m). Inconsequential.

ARoundForEveryone

I have no issue with that. I acknowledge that the lion's share of Bitcoin is held by financial institutions. And retail, we're all aware of confirmation times of Bitcoin and competing coins/tokens, and how Bitcoin wouldn't be viable in a retail setting. Buying milk should take a few seconds, not minutes or hours. I actually only hold a tiny amount of Bitcoin now. Not sure how much, but not enough to buy even a used car or anything. Probably only a few hundred bucks worth. But I do have a portion of my IRA in GBTC (and ETHE as well). Which is just Grayscale owning BTC and ETH, and loaning a portion of that to me until I retire.

AggravatingMarch6532

Thanks, makes sense as to why GBTC was traded at a premium

Ulrask

Wow, haven't looked for a while it almost doubled. And GBTC seems to be done bleeding ? Do we how much they do have left ?

AggravatingMarch6532

So i know MSTR's premium is because they leverage their holdings but why was this the case for GBTC? They're just a fund buying btc without leverage.

ARoundForEveryone

Note that any answer to this question is speculation. We can predict future mining production, total availability, and the like. We can't predict adoption, acceptance, legality, or derivative products (options, layered assets like GBTC, etc) I'm a fan of Bitcoin, and crypto as a whole, but not a fan of going balls deep on anything. Hedge a little at least. Whether traditional stocks and bonds, government treasuries, or some cash under the mattress. Never put your entire basket into one product. It's a decent way to get rich, but a great way to go broke. Diversify. Lean towards Bitcoin and crypto if you like, but don't neglect more traditional investments that have longer track records and more consistent returns.

PontificatingDonut

Dude, you got a crazy premium on MSTR right now that WILL come down. GBTC had a 100% premium in 2017 and went lower ever since. It went negative for a while and now trades close to parity. So MSTR has a 50% downside baked in before you consider where bitcoin is going. I doubt it gets included before this premium is mostly gone

coinfeeds-bot

tldr; BlackRock and Fidelity have collectively acquired over $521 million worth of Bitcoin in a single day, according to blockchain data flagged by Arkham Intelligence. BlackRock's IBIT ETF address received 4,130 BTC ($436.3 million), while Fidelity's FBTC ETF address added 805 BTC ($85.2 million) through separate transfers. Grayscale also added 55.1 BTC to its GBTC trust. These institutional purchases signal growing confidence in Bitcoin, especially amid expectations of ETF-driven demand in Q3. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

arBettor

Because GBTC/BITO/IBIT price changes are since Friday's equity market close, and your +4000 change is over the past 24 hours.

CryptoAnarchyst

Jesu, I have to educate the freaking ignorant... OK... let's do this bud. Previous cycles were SOLELY retail driven, extremely limited institutional involvement if any. GBTC did it's thing in 2017, but in 2021 there was no institutional buying and the cycle underperformed because the inability of the Trump administration to effectively deal with Covid-19 pandemic left the economy crippled. During 2021 we had the highest inflation rates with real inflation being over 10% (if you bring up CPI, you're more ignorant than I thought), the interest rates started climbing up and the world really didn't know what the future was going to look like. Uncertainty kills markets and that was the first sign that Trump's incompetence was going to kill economic progress. Now let's look at the current state of crypto. Since ETFs were approved we've had tens of billions in investments flow into Blackrock, Fidelity, and Strategy has been buying up $60 billion of bitcoin to date... so the amount of inflow doesn't corelate to the amount of growth. We've gone from a MCM of 20+ to less than 10 since Trump took office and that is a much bigger metric to show an impact than just number go up... and if you don't understand the concept of Market Cap Multiplier then you really don't belong in this conversation.

plutusfortuna

Hey there! As u/MichaelAischmann commented below, we don't gamble with client collateral like BlockFi and Celsius did. Not only did they use borrower collateral for risky undercollateralized or even unsecured lending to crypto hedge funds like Three Arrows Capital, they also lost millions of client funds speculating on DeFi yield farming and the GBTC arbitrage trade. At Lantern, borrower funds are simply sitting, or if applicable, natively staked, within BitGo's insured cold storage environment.

Ok-Half-48

Keep buying. Buy calls in GBTC if you must!

Different-Hyena-8724

About half. Was already decent enough from stocks about 10 years ago. That allowed me to be risky with BTC. Been all in on ETF's and GBTC since their inception.

GeneralZex

It should be possible to do a direct transfer without selling. Basically Vanguard transfers the stock directly to Fidelity. Start on Fidelity’s side and see what transfer options they have, they should be able handle it. In my case I used Robinhood and they handled it all and I got direct transfers of GBTC.

GeneralZex

There was a time they let me buy GBTC. Then the other ETFs got approved and they didn’t allow buying or selling of GBTC. I sold portions of my other funds moved the cash and GBTC off of there and onto RH. My other funds there have done “well enough” and it offers returns that don’t require selling anything on my part. With all the companies starting Bitcoin treasuries even regular stock funds will have exposure eventually.

AppearanceAgile2575

Combination of cold storage and traditional investment accounts in the form of GBTC. I keep a some on my hot wallet as I DCA/accumulate.

fosteju

Grayscale spun off a portion of the bitcoin held in the GBTC Trust funds and “awarded” shares of their new BTC ETF to existing GBTC holders. That’s where the massive “underperformance” stems from. As a long term holder of GBTC in my IRA accounts I already investigated this thoroughly, lol

arBettor

Futures ETFs track bitcoin much worse anyway due to the cost of rolling futures contracts. If OP is looking at those instead of spot ETFs, that's the problem. Only spot ETFs will closely track bitcoin's price, and only since they were actual ETFs (so old GBTC info will also not be useful since it used to trade at a huge premium or discount).

BoomerSooner-SEC

I just eyeballed GBTC and YTD it’s about a point and half low but I assume that’s expenses (GBTC is expensive).

LtDrogo

Many of us work at companies where our Fidelity 401K accounts can be linked into a Brokeragelink option where we can invest in a wide variety of ETFs, including many Bitcoin ETFs. I had GBTC in my 401k for years, and converted into a Fidelity's bitcoin ETF after the SEC approval.

Smoking-Coyote06

>Noob question: this level of concentration is not “dangerous”? Depends on your perspective. Strategy has less than GBTC at its peak, and less than IBIT now. The concentration is like 2%. >What if he suddenly sell big % of his position? Short answer. More selling pressure means price would go down giving more supply for buyers. But Why would he sell a big % of his position? If you listen to a significant amount of his talks you'll understand that he's a bitcoin maxi. Btc is the exit. He doesn't consider the bitcoin a "position." He considers it pristine digital property that it finite and that is "going up forever, Laura"

BigAcorn1770

Paste? Lol. I've had 100 percent of my IRA and ROTH portfolio in GBTC for 6 years, 10xing 6 figures to 7 figures, all without Paste..just good ole THC. A year ago Grayscale arbitrarily moved 10 percent of all shareholder funds out of GBTC to seed the Mini Trust. And it's from the mini trust accounts that I will begin drawing from soon, as I begin real estate projects. Conclusion: it's not paste, bro. It's THC for the Win.

alpha247365

I’m long IBIT and BITX, hedged using options. GBTC merely following, eg, fund inflows and outflows. GBTC beating most ETFs, so the yearly -1.5% is negligible for those who it, it has $20B AUM for a reason. Whales own it, mostly.

craftadvisory

GBTC? Lay off the pasts

Fun-Sundae4060

BTC not GBTC

BlightedErgot32

GBTC??? hahahaha look at the expense ratio…

alpha247365

**IBIT, BITX, GBTC** Might wanna load up, train about to leave again after a brief pause for a week or two.

heavyonthesauce

IBIT, FBTC, GBTC, BITB. All good.

lincoln-pop

But if himans hold most of the supply, how can the rest of the galaxy use it as a galactic currency unless they have more but then we only value bitcoin because of the limited supply. So if we find out there is actually way more bitcoin than what we thought then we would not value it as much. But if it is actually a different but similar currency then we will have to switch to GBTC which is not our BTC so we have to switch it anyways and GBTC it is not the BTC we are used to (GBTC is probably much less volitile). So then there is no benefit of getting us used to BTC before switching us to GBTC compared with switching us from any other currency.

cyger

This is the reason years ago, when leaving a company with a 401, I rolled it into an IRA. That IRA allowed me to get into the trust GBTC 10 years ago - that 3% or so I put in has dominated my portfolio in the last few years.

Ok-Sympathy9768

This is the reason for many.. considering nearly 25% of all coins mined so far have been lost forever ( that is crazy to think about). a lot of people are afraid of losing their money because of lost passwords, or being stolen by either a cybersecurity mishap or a wrench attack. Not everyone has the technical ability to set up and run a node or do self custody or do cold storage but they still recognize the value of bitcoin .. there are a lot of people who trust an etf like ibit or ark or fidelity or GBTC more then they themselves.. not your keys not your coin..yup… but in order for mass adoption to happen there has to be some ease of use similar to historical computer technology

stock_momma

In my fidelity Roth IRA I hold BTC, FBTC, and GBTC up 700% bought GBTC at $10

SouthernGoal4836

Not a noob to bitcoin but I’ve only ever bought the ETFs and GBTC back in 2017 before ETFs were around, but I’ve still not pulled the trigger on self custody or researched it much. I understand why you should be fee show your seed phrase but how is this seed phrase valuable if you don’t know the wallet address? Which is just as complicated as the seed phrase to guess? Someone also said the same thing about how it’s dumb to stamp your seed phrase on metal Because If someone finds it your bitcoin is gone. I’m not understanding that without also knowing the corresponding wallet address. And if the funds can be recovered and transferred with just the seed phrase that seems like a small security risk since you can no longer “keep the lock and the key” in separate locations so to speak.

Give_Life_Meaning

If I were in this situation. I would sit on the GBTC and switch to start stacking BTC via DCA. GBTC is priced in USD but it is not USD. Someday the GBTC may be priced in BTC or some other digital coin used for daily transactional use.

cpt_charisma

You really just have to worry about GBTC collapsing. If that's a concern, get out. If not, don't worry about it. You could also call your congressman and tell him you want to be able to withdraw Bitcoin from GBTC. The only reason you can't right now is because the regulators say so.

Seriousoldman

You should compare liquidity/typical trading spreads and annual fees for the several ETF. (Your is great on the fee side, but not so great on the liquidity...) Apart from that they are all equivalent. (In my case, I used to have GBTC but changed into IBIT when the US ETFs were launched...)

discip1e-1

If the dollar collapses what you will see if your bitcoin jump up in value. This is a common thing in countries where the economy collapses and commodities explode up in value. If the dollar collapses your bitcoin will go up to $500k or ! million. I suspect the value of bitcoin held by GBTC will explode up in value as well. Just my 2 cents worth. I'm no financial expert just experienced in life...

RockHardnParty

First and foremost, you have to realize that the dollar has already "collapsed". It will continue to do so and is able to lose 99% of it's current value (compared to Bitcoin) again. GBTC is not Bitcoin. MSTR is not Bitcoin. Bitcoin ETFS are not Bitcoin. The only way to ensure future access to Bitcoin wealth is through self-custody. Check out BTC sessions as he has many videos and tutorials of how to set up various Bitcoin wallets. If you decide to change out your GBTC for Bitcoin now, yes you'll have a tax hit on the gains, but the reality is you'll have a smaller hit now than in the future. At the very least, stop buying it and start DCAing actual Bitcoin to a child storage solution.

Ok-Sympathy9768

I agree with you having some level of diversification is needed. Like having a house (I never factor the house into the net worth because we always need a place to live), but for me diversification includes having at the very least 1-2 years safety net of cash that would cover all expenses, and gold equivalent to minimum of 3 months living expenses, some stock market exposure say through a retirement accounts maybe indexed and some self directed individual stocks , and no debt (other than mortgage if the interest rate was under 3%, basically free money with the ability to pay off the mortgage at any time).. a maxi would say liquidate it all, rent a studio and invest everything in BTC…that will never happen…also I do not own bitcoin directly but for me I believe I have enough bitcoin exposure. This goes back awhile to when my bank threatened to flag and close all my accounts for suspicion of possible fraudulent and illegal activity when I asked about wiring 9 thousand to buy a little over 50 BTC from an exchange ( I wanted 100 BTC but I thought if I tried wire transfers greater then 10k I would get flagged :/ )…a year or so later I was finally able to get my BTC exposure and growing tax free(thank goodness for GBTC back in the day)!!! So now I think I am coming full circle and want to learn about setting up a node and actually buying the real thing.. but it’s so complicated the whole utxo thing and the whole cold storage thing, which I believe is the only way to go.. but now I plan to do this soon and contribute to the network by setting up a node.

Ok-Sympathy9768

Agreed, diversification is important..can’t just stack sats… diversifying with IBIT, FBTC, GBTC, MSTR, etc may be beneficial .. of course this is not financial advice

cyger

This post is what convinced me to get in back in 2015 - I got in in my IRA with the fund GBTC back in 2015 - had to pay about $400 for $300 worth of BTC at the time because the shares were overvalued - Also because GBTC had 2% fees I lost about 18% of my BTC. Last year I converted that GBTC to two of the much lower fees ETFs. - My IRA is looking great Think it was on reddit: > Coinmarketswot (Sept 2015) 1, 2008-2011 ($ 0.001) : Genesis, nerds convincing nerds to code and build Bitcoin by the White Paper of Satoshi Nakamoto 2, 2011-2014 ($ 100.00): TEA, Technical Early Adaptors, first universities adopting master programs, pioneering tech companies join and such business angels 3, 2014-2015 ($ >100.00): TEM, Technical Early Majority, All serious tech companies and serious tech universities are on board of Bitcoin 4, 2015-2016 ($ 1,000.00 - 10,000.00): IEA, Investors Early Adaptors, Non Tech Private Commercial industries enters the Bitcoin Ecosystem 5, 2016-2017($ 10,000.00 - 100,000.00): IEM, Investors Early Majority, Public and Government Backed funding and investments on International (Stock) Exchanges

Extension-Article174

why YBTC instead of ones that actually hold BTC like GBTC or IBIT? and BITO seems the be the more popular btc covered call etf. Im not too saavy with BTC etfs. I hold a little BITO and GBTC personally but mainly hold BTC in cold storage. I was thinking of adding more to by BTC based ETFs.

Sassylyz

Yep. Did you switch to another ETF though yet? The GBTC one was killing us in fees.

LowCalligrapher2455

A better deal was buying GBTC before the ETF’s launched and was trading at a huge discount. I can believe how cheap it was back then. Made over 10x so far.

Sassylyz

I am incredibly grateful to all the people that panic sold so I could buy GBTC so cheap

Sassylyz

I got GBTC at like 10 bucks (50% discount NAV) which I think is the equivalent of maybe 12,000 he he he

8A8

And? IBIT doesn't include FBTC, GBTC, ARKB, BITB, BTCC, BITC, HODL, BTCE, BITW, BTCO, BRRR, QBTC, or BTCW. (among many others)

KenduInuArmy

I Have 1 Bitcoin and A Lot Of $GBTC

roadwaywarrior

Rolled over my first job 401k of about $45k into a Roth IRA, was in my mid 20s. Dumped every penny into GBTC. I figured it was a gamble, but I rationalized it as the price of a decent car. I didn’t need a car. Kept selling at near highs and buying back in at near lows. I’m up 1422%

Amazing_Giraffe_7464

I picked FBTC because they dont use coinbase as custody. Your best option is the pick the one that has a fee structure you're okay with. The two largest bitcoin ETFs are currently IBIT and FBTC. Followed by the already populated GBTC that used to be the first trust. The rest are small-time since release. Take that for what you will. https://etfdb.com/themes/bitcoin-etfs/

Secret_Operative

What penalty did you pay for putting your IRA into bitcoin? I've been in GBTC and then FBTC since it was an option, and my IRA is so up it's insane.

alpha247365

**IBIT, BITX, GBTC* Load up folks! Rocket is merely launching.

coinfeeds-bot

tldr; Bitcoin ETFs saw $422 million in inflows on May 1, with BlackRock's IBIT leading at $351 million. Total Bitcoin ETF assets under management (AUM) reached $112 billion, driven by Bitcoin's price surge. BlackRock's IBIT holds $58 billion in AUM, while Fidelity's FBTC and Bitwise's BITB gained $29.5 million and $38.4 million, respectively. Grayscale's GBTC reversed prolonged outflows with $16 million in net inflows. The ETF market is evolving, with competitive pressures growing among issuers like Valkyrie and VanEck. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Secret_Operative

A long time ago I put my retirement accounts into GBTC. Not ideal, but holy shit it turned a nothing-burger pair of accounts into legit retirement ready monsters in just a few years. Then Bitcoin ETFs came along and I converted it all to FBTC.  It's still growing like crazy, and the few people I know the same age as me with IRAs and Roths like to compare numbers, they can't even comprehend the growth of my accounts in past years. That is all separate from my income investments, and separate again from cold stored Bitcoin. I already don't work, and it's not my Bitcoin or my IRA keeping me free. One day maybe.

Nice_Collection5400

Fair point, GBTC skews things. Let’s back them out completely. Now it’s 2x inflows of mined BTC during the period (not 3x).

harvested

They hold it. You're forgetting GBTC existed for years?

LNCrizzo

I made a killing buying GBTC at a discount.

mcr55

Every solution besides holding your own coins has been disastrous for the past 15 years. Mt.Gox- RIP BlockFi-RIP GBTC- Lost double digit % FTX - RIP HODLing your own coins is the only long term solution.

oprahfinallykickedit

GBTC baby

ResponsibilitySea327

It is still early. But IMHO, long term MSTR will closer to an ETF/trust in terms of valuation with no NAV premium like GBTC before it. Possibly a discount once it faces real headwinds, again like GBTC did before it. In that sense it will be forced to be more like TradFi. At some point investors will want their skin back and Saykor (or his successor) will have to make it more investor friendly when it comes to owning the underlying BTC.