GBTC

Rydog_78

If you really don’t want to do self custody, consider buying the BTC ETF that’s being offered by nine investment brokerages including GBTC. You will get exposure to the price of BTC but minus the responsibility of self custody.

Nutmasher

When I first learned of the halving and put some GBTC in every account. Tripled my money. A-Ha!! (My college-aged sons' retirement accounts will be getting the full FBTC treatment.)

tnel77

We’ll see a supply shock when GBTC knocks it off lol. Their outflows are the only thing holding us back.

19YoJimbo93

GBTC is good I hear.

CryptoAnarchyst

FBTC, IBTC, GBTC, ETHE Those are the top 4 funds available via stock market options to invest into the crypto markets. After that it gets much more complicated.

Indels

Yes! But my issue is they are and people are falling for it just by seeing the ETFs in flows. Yes GBTC had a lot of out flows too but essentially ETFs are paper bitcoin. I think only time will tell if they were a net positive or negative.

LivingTheTruths

I mean.. GBTC stopped selling chunks yet the price is still tanking lol. Demand doesnt seem to be very high

cyger

In since 2015, I've done alright, especially with my GBTC holdings in my IRA. But would have been done better, if I put more in. But it was a fearful time to buy crypto back then. Almost no one from the traditional finance world ever said anything positive about it. Now it seems obvious, but how much would you be willing to invest then when you wern't sure if crypto would survive.

Higher_Math

58k is coming you just gotta wait for the market to open tomorrow and GBTC dump.

Ok-Plastic2815

GBTC is not levered

monya91674

There is GBTC (greyscale btc).

Higher_Math

Actually I figured it out. Don't buy until GBTC dumps Monday if you think this is for real.there is a real tangible "next leg down".

Lookralphsbak

I've tried finding answers online but couldn't find anything. I hold GBTC stock, the price of the stock has been relatively positive even with the outflow, do you have any idea of how the stock price will react if outflows pump up?

heinzmoleman

At the current rate of them selling they will run out in July-August. If the outflows ease up it becomes a moot point because there is significant demand elsewhere. GBTC has been throwing a lifeline to those who are still trying to buy into BTC at these levels.

analogOnly

Yeah definitely leaning on the 6 month or possibly earlier this cycle. By earlier I'm really excited to see what happens when GBTC has outflows of BTC in double digits, probably in the next 6 weeks to 2 months.

SolVindOchVatten

I agree with what you said except that Grayscale will run out of BTC soon. It'll take over 3 years at this rate. What I do think is that a lot of the people selling are buying either other BTC ETFs or Bitcoin directly. I also think that the rate of selling will decrease because the sellers that really want out is decreasing. Also, Grayscale has hinted that they will decrease the management fee and then the GBTC could turn into an inflow.

Icy9250

What makes you think GBTC outflows are almost done? Even with all the outflows they’ve already had they are STILL the largest institutional holder. There’s a looong ways to go buddy.

recursive_lookup

I may be making a false assumption here, but I would have thought the money exiting GBTC would wind up in IBIT, FBTC, etc. resulting in an almost net zero loss/gain, but that doesn’t seem to be the case for much of it. Sure, some of it moved to the other ETFs, but big withdrawal days don’t seem to be going back into BTC. Any speculative thoughts on this?

tk42150

Me. I buy a few hundred dollars worth of bitcoin and self custody every paycheck. Then I put 50 into GBTC each paycheck. That's my "diversification"

Nice-Range-7653

Was buying GBTC at a huge discount to nav in my 401k with Fidelity for 2 years. Once it converted and ate up the discount I converted it all to FBTC and there it will sit until somewhere down the road when 401k’s will let you hold actual BTC at which point I will convert the FBTC to real BTC. All without incurring taxes. Gotta think long term.

irisuniverse

GBTC is held by individuals who are selling.

Jazzlike_Record_8915

But if more sell than buy, then price tends to go down... assuming there's no wash trading... Also, "net" matters: US seems to be a "net" seller of BTC, while China is a "net" buyer... even after taking the ETFs into account... why? Because of the number of whales who paid $200 for 2,000 Bitcoins in the US is high... they are not gambling on a bull run, they regret not exiting in 2021 cycle, and they are dumping now. Many paid next to nothing. These dormant whales have insisted on selling at $71-72K, therefore capping the price, and delaying the rally. On a net basis, Bitcoins therefore will shift to a higher % of East Asia ownership... despite so many miners being here. Miners keep operations globally - so it's not a useful indicator, as some are owned/controlled by companies/persons based abroad. Look at the daily chart for the last 10 trading days. 8 out of 10 saw the same exact pattern of dumping at US Open. GBTC and other whales. Compare it to the East Asia market price action... which has been more positive.

SevenGlass

The _spot_ Bitcoin ETFs are quite similar for the most part. A few worth calling out: Ticker|Notes -:-|:-- EZBC|Cheapest (Fees, not unit price. Unit price is irrelevant.) IBIT|Largest (Not sure why you would care about size past a certain threshold, but that's their selling point) FBTC|Custodies the bitcoin for you, no third party involvement GBTC|Very expensive. BITX|2X Leveraged. Don't do this unless you understand what you are doing. It doesn't just mean "it goes up twice as fast". Decay will eat you alive.

Public-Remove-111

This fee thing, I held GBTC since 2020 sold not too long ago, never saw any fees I had to pay, also went balls deep into mstr I thnk it will do better than any of these btc etf's

HurricaneHarvey7

The smartest possible thing you can do from here is unload GBTC, buy BTC and self custody it

Peace-of-Hart

I don’t see that as saving them. Investors have already been held hostage long enough to formulate their exit strategy and the point at which it makes sense to deal with the taxes and reinvest in the best value ETF. I doubt even with fee cuts GBTC will be the best value or any longer have consumer confidence as a reliable future major player. Plus, people are mad at GBTC’s betrayal. They talked as though they were activists and would respond to the market, but they didn’t do that at all. Instead, they made a terrible business decision for their own long term profits and abused their customer base in the process. Their brand will suffer badly in history is my guess. Bitcoin will be this monumental paradigm shift and people will note the largest holder when the markets opened got greedy and shrunk itself to maligned insignificance in record speed over a stupidly greedy miscalculation. Now I’ll tell you how I really feel.

LNCrizzo

They're buying GBTC? Are they stupid?

asml84

It’s true that we’re getting closer to equilibrium, but ultimately it’s not about GBTC. If GBTC sells 15k and IBIT buys 17k that’s fine. It’s important that we see new money entering the system.

DavidHobby

At 1.5% annual “expense” fee, $GBTC selling won’t be done until their AUM = $0.

ResponsibilitySea327

Why would the BTC ETF's, which are backed by actual BTC and required to track BTC via their prospectus not parallel BTC? There are *separate* ETFs that track Futures and any of the "Strategy" ETFs like BITO -- which have nothing to do with GBTC, HODL, IBIT, etc which own BTC directly and track BTC directly (during market hours).

weaponsmiths

I'm not sure it matters since people exiting GBTC are likely just moving to a lower cost ETF. Also the entity that was dumping GBTC shares by the billions used it to buy bitcoin, so not sure that news moved bitcoin in either direction once they were done selling, then loading up again.

EitherInvestment

The ETF inflows/outflows matter big time. yet. I didn’t say they don’t. If anything their impact has barely been felt yet. I said GBTC is not so relevant anymore. It’s the net inflows/outflows that matter.

AdamFitri2005

Imagine the pump when GBTC's inflow is finally positive

EitherInvestment

It doesn’t really matter. The net inflows/outflows are what they are and if they increase or decrease, there is a lot more to the story than GBTC. Grayscale is no longer a story to look to that gives much info on what is happening with BTC nor the ETFs in general

Peace-of-Hart

Many people will continue to unload GBTC over time; they are just waiting for individual specific factors to align that make it right timing to incur taxation. One factor is one year from purchase at low points when better long term capital gains tax rates kick in. For many, this year marker won’t be until this fall. There are so many tax strategies more important than GBTC’s greedy fees that GBTC is effectively holding investors hostage. I think GBTC will go down in history as one of the greatest examples of stupid greed self-destructing.

Butanic1

For Vanguard this is true. I owned GBTC when it was a trust and then a few years ago they stopped allowing OTC trades which stopped my purchases. Worked out great though as I started buying MSTR and CLSK instead. Apparently Vanguard feels they know better then us. Screw that.

coinfeeds-bot

tldr; On April 10, Grayscale Bitcoin Trust (GBTC) experienced its lowest daily outflow at $17.5 million since transitioning to a spot Bitcoin ETF, amidst a broader context of significant outflows in the past months. This reduction in outflows coincides with a statement from Grayscale's CEO about reaching an equilibrium in fund outflows. Despite recent heavy outflows, U.S. spot Bitcoin ETFs, including Grayscale, saw net inflows of $123.7 million on Wednesday. The data suggests a potential stabilization in GBTC flows, although caution is advised due to the volatility in ETF weekly flows. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

analogOnly

Grayscale isn't really selling anything as a company, they are completing orders made by share holders. GBTC is the issuer for the ETF shares, but it itself is not making the buy/sell calls, people are.

_ich_

Yesterday GBTC outflows were sub 20mil$, so expect really low selling pressure form their side today on spot market. I hope Grayscale CEO is not lying and this fuckery (at such scale) is behind us now. I can see GBTC outflows to continue at around 1000 btc per day from now on? Market would not have any problems to buy this up.

zxr7

Not everyone tries to unload off GBTC. Unloading might be drying up.

redrumeight

Definately the Hong Kong news for me. And that GBTC could actually be sold out, despite having still ~300k ₿TC on their sheets.

AdamFitri2005

Tbf even GBTC barely sold anything too

redrumeight

I am not smart enough to grasp all the talk from Adam Back on Twitter, but according to [a recent post from him](https://twitter.com/adam3us/status/1778179933933871453?t=eGstIzuqonDuxi5QVF-xDw&s=19) GBTC might be actually sold out. Maybe someone who better understands it can eli5. I am also not native english speaker so all these financial abbreviations further confuse me.

manuLearning

Source to the amount of BTC that GBTC still holds?

SmoothGoing

GBTC stash is getting drained and big 2 or 3 ETF stashes are growing. It is obvious (and I say that at risk of being ridiculed) that it's a side shift. Some people just wanted to swap out to new lower cost ETF and some newcomers bought into new ETFs as well. Who knows what will happen next.

analogOnly

I think, and this my opinion so take it with a grain of salt, the market will feel this halving quite a bit quicker than the average amount of days after previous halvings. The reason I've come to this conclusion is directly related to the fact that the ETFs are in play. Demand is higher than ever. Inflows continue to be high. GBTC is draining VERY quickly (at this rate they'll be done in 60-90 days) I think this will have a new effect on this cycle specifically.

SmoothGoing

Grayscale does not sell unless shareholders do. Yes, the (more than) 9 new ETFs are buying those bitcoins because people are buying up the shares of new ETFs. There is nothing artificial about it. It's a lot of the same people who held GBTC are now buying other ETFs. Also many new people, including me throwing a few bucks in there.

Next-Jicama5611

GBTC outflow only (17.5)! Incredibly low!

thedudman69

Speaking of GBTC, I saw an advertisement for it at my airport terminal today. It was great seeing Bitcoin being put in people’s faces and being seen as more “normalized”

SatoshiBlockamoto

GBTC traded at a discount to spot BTC for the last few years. In June 2023 you could buy gbtc for 45% below the spot BTC price. When they converted to a spot ETF the discount went to zero. So people who bought and held BTC last year are now WAY up. Like 500% up. So now consider those huge gains passing into long-term capital gains territory at 12 months, and gbtc charging excessively high fees, means lots of people are swapping gbtc for other cheaper ETFs or just selling outright. I'm sitting on some that's up 500% and I expect to unload it sometime this year.

Outrageous_Word_999

with new investment dollars coming in to the system that far eclipse the price x amount of new bitcoin, that would definitely impact the price. Similar to GBTC, eventually the supply runs out, but fiat never runs out. It gets printed faster and faster annually. Thus the BTC Price goes up forever.

Nice_Category

GBTC also has HUGE fees. I'm sure a lot of the outflow is also the inflow to $IBIT and $FBTC

heinzmoleman

We just had a dip into the mid 60s. You're not getting cheaper BTC and your greed is gonna cost you potential gains when you fomo in later. The halving is 9 days away, GBTC easing up on selling ,China rumored to be getting ready to approve BTC ETFs. You need to hop on the train or get left behind.

ylccCMJ

Small outflow of 17.5 million from GBTC today

Makonnen91

Previously before the ETF convert, GBTC holders weren’t able to easily sell their BTC without jumping through hoops or taking substantial tax hits. Now that they can trade freely as an ETF, I’m sure there are folks who’ve been “trapped” for years ready to take profit

Ok-Skill-2991

Can someone please explain to me like I’m 5 why GBTC has this massive outflow when the new ETFs started? I thought GBTC was an etf already?

HurricaneHarvey7

GBTC Outflow - $18M

mokshahereicome

I don’t know why anyone would buy GBTC when there are many other ETFs with management fees of 0.12-0.25%. I’d actually say that grayscale may be the worst BTC ETF option out there. Certainly one of the worst

Sea_Salamander1705

Are you asking when will GBTC have 0 BTC holdings? That will happen when all the investors leave the fund: when every current investor wants to sell, and the only people buying are market makers exchanging shares for the underlying Bitcoin. Grayscale may reduce their fee to keep that from happening. Otherwise, it's hard to say. Some of the shares are held in taxable accounts, and the owners of those shares won't want the capital gains tax and may continue to hold for years. Also, outflows can take a while as market makers wait for a good arbitrage opportunity betweem share price and Bitcoin value. Yes, GBTC publishes current holdings, and so far they're still the largest.

Abject-Government-13

Okay quick question for OP. Do you think it is still good to invest in GBTC and ETHE? What ratios preferred if both? Once NAV reaches zero will you withdraw and reinvest with self custody or what is your probability premiums will return?

WineMakerBg

Well Done, my friend. I was trying to buy GBTC last year, but my broker wouldn't allow retail clients to own it.

Awe101

I have a bag of GBTC in my Roth.

dirtsmurf

ETFs have a redemption mechanism. This is not another GBTC.

KMan471

Maybe look at GBTC, (grayscale, bitcoin trust)

coinfeeds-bot

tldr; A fake account on the social media platform X, formerly known as Twitter, has been promoting a $25 million crypto giveaway scam. The account, @Grayscale_FND, falsely claims to be associated with Grayscale, a real company in the crypto industry. The scam involves the distribution of a new token called GBTC. The account uses a blue checkmark, which used to signify verification on Twitter but now only indicates a paid account on X. The real Grayscale account has a gold checkmark, a designation for official organizations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

mckeddieaz

I am a financial advisor who was orange-pilled by my cousin on a camping trip a few years ago. I have only spoken to clients about Bitcoin when they bring it up but my hope is to begin adding it as an option for those who are open-minded in my investment models soon. I personally hold GBTC within my retirement accounts but expect to wait until a spot-price ETF is approved before adding it. I'm just one advisor, but if my client purchases represent a few million dollars of BTC purchases, what would you guess would happen with the price once Bitcoin is an easy addition for everyone (Both smaller retail and big players like pensions)

coinfeeds-bot

tldr; David Bailey, CEO of BTC Inc., has accused Barry Silbert, CEO of Grayscale, of using customer deposits to manipulate the price of Grayscale Bitcoin Trust (GBTC). Bailey alleges that Silbert borrowed up to $500 million to prop up the GBTC market, particularly during the collapse of Terra Luna in 2022. He also claims that Silbert used GBTC shares as collateral for borrowing purposes to service bitcoin loans from BlockFi, which later went bankrupt. Bailey equates Silbert's actions to those of Sam Bankman-Fried of the now-bankrupt FTX, who allegedly used his FTT token to artificially inflate the value of his balance sheet. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

goldyluckinblokchain

Grayscale already own around 640,000 BTC that they want to convert from GBTC into a BTC ETF. There is speculation that Blackrock could now be the 3rd biggest BTC holder https://www.thestreet.com/cryptocurrency/is-blackrock-already-the-third-largest-bitcoin-holder-in-the-world Whether that is Blackrock or not let's be honest it isn't an individual so some institution is filling their bags

coinfeeds-bot

tldr; Ark Invest has reported positive market trends in Grayscale Bitcoin Trust (GBTC), indicating growing confidence in the potential transition to a Bitcoin exchange-traded fund (ETF). This follows a recent U.S. Federal Appeals Court ruling that the Securities and Exchange Commission (SEC) must review and reconsider its rejection of GBTC's application to convert into a spot ETF. Despite a 21.7% liquidation of Bitcoin futures, Ark Invest suggests this was a "cathartic sentiment correction" and highlights a narrowing discount to GBTC's net-asset-value. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

socalquest

I’m long 10,000 shares of GBTC, equivalent to 9 bitcoin. GLTA!!!

socalquest

GBTC is a good buy still if you want cheap BTC at a large discount to NAV. I own 10,000 shares or about 9 bitcoins. GLTA!!!

pbjclimbing

Right now GBTC is a closed trust that is traded OTC. * You cannot redeem for BTC * Management fees 2%+ If they are denied they will likely continue business as normal. They might do buybacks. They are making a shit ton on management fees.

yyca_x

a lot of investors are eager for a Bitcoin spot ETF, and while the SEC hasn't approved Grayscale's conversion of GBTC into an ETF, other players are in the mix. If the SEC continues to deny Grayscale's conversion, they or other entities could create a new Bitcoin ETF. Approval of a Bitcoin ETF may open doors for other cryptocurrency ETFs, but regulatory uncertainty will continue.

Qptimised

Nobody knows until the time comes. But I feel like anyone buying GBTC at a discount should realize it doesn't come without risk.

Waste_Actuary_3290

>It continued, saying if there was another reason for rejecting GBTC's conversion besides the Exchange Act’s requirement that rules be “designed to prevent fraudulent and manipulative acts and practices” — it would have already been made clear. What is the end goal for the SEC? This is obviously wanted and bring clarity for them, they're Gary won't do it.

DriftMethod

I understand the discount to NAV for GBTC, ETHE, and GDLC, but can someone explain why there are huge premiums for some of their other products? Examples (as of close 9/05): GLNK market price is $15, but holdings per share is $5.74; FILG market price is $20.05, but holdings per share is $3.01.

igadjeed

> SEC has no basis to refuse to convert the GBTC trust into a bitcoin-ETF DCG's solvency crisis is sufficient basis to shut down the GBTC Trust

Extreme-Mind-3270

My offer was accepted over the weekend and I had to sell sats to cover the majority of the downpayment. I hadn't sold a single sat since Jan21. What I did to cope was purchase the equivalent amount of GBTC in my 401k. It's not the same as I now have 25% self custody coins and 75% GBTC but it's the next best thing.

coinfeeds-bot

tldr; Grayscale Investments has informed the U.S. Securities and Exchange Commission (SEC) that there are "no grounds" to reject the conversion of its Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF). This follows a court order last week for the SEC to review its previous rejection of the conversion. Grayscale argues that its proposed product is not significantly different from bitcoin futures exchange-traded products (ETPs) that are already traded in the U.S. The company also criticized the SEC's history of rejecting spot bitcoin ETF applications. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

socalquest

Right now I have \~9 BTC via GBTC Trust (10,000 shares). HODL BTC TO RICHES!!! GLTA!!!

Extreme-Mind-3270

Use your 401k to purchase GBTC

ogg_ogg

The new verdict was in response to Grayscale’s lawsuit against the SEC, which denied the firm’s application to convert its Grayscale Bitcoin Trust (GBTC) into an ETF on June 29, 2022

moorej66

You buy any GBTC in your 401k? If you have a brokerage acct that is an option. My goal is 80% Vanguard ETF, 15% GBTC and 5% risky stuff like high yield ETFs, microstrategy or other crypto derivatives. GBTC is a very risky move in a retirement account because GBTC could potentially never become an ETF or Bitcoin could crash. The likelihood of that happening is fairly low. I'm fortunate enough to have such a nice 401k plan through work that I can take some of these risks. GBTC has been a way less stressful way to "accumulate" bitcoin. I'm focusing on putting more of my extra savings into alt coins now and ill buy more Bitcoin after next bull run from profits.

coinfeeds-bot

tldr; Grayscale Bitcoin Trust (ticker: GBTC), the world's largest Bitcoin fund, recently won a major court victory, increasing the likelihood of its conversion into an exchange-traded fund (ETF). However, despite its cheap price, the trust still carries risks. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

vanlifecrypto

Not at all surprising. This is what they always do with BTC ETF applications: delay as long as possible and then reject. Zero chance a Bitcoin ETF gets approved under Gensler unless he is somehow legally forced to accept BTC ETFs. That ruling about the GBTC ETF by the courts was nice but it likely doesn't force the issue, just means Gensler has to come up with different excuses on future ETF rejections. I'm guessing this news is why the market just dropped but it really shouldn't have surprised anyone. I've been very miffed about why so many people suddenly thought an ETF would get approved just because Blackrock filed for one. They have no more chance than anyone else, because everyone has 0% chance, considering the head of the SEC is extremely anti-Bitcoin and anti-Crypto.

arBettor

Of 1.5MM, I'd put 100K into bitcoin itself and 100K into GBTC. I'd keep 200K as dry powder in money-market funds. The remaining 1.1MM would go into a broad assortment of assets, mostly liquid and mostly equities. I'd sell the GBTC if/when it converts to an ETF assuming I've reached long-term capital gains status. If it's late in the halving cycle, I'd keep the proceeds liquid to DCA into BTC during the next bear market. If there's still a year or so of likely bull market left, the proceeds would go into actual BTC to be sold again toward the end of the cycle. I'm not paying off the house in that scenario. Mortgage probably costs less than money market yields right now. Regardless, during the next major bear I'd use dry powder to rebalance back to a roughly 10-15% weight of BTC to prepare for the following cycle. During the euphoria of that cycle, I'd trim BTC back down to 5%. By then I'm probably mid/late-50s and don't need too much volatility. Probably I'd pair BTC with gold with a minimum allocation of 5% each for the long run, and gradually increase my exposure to bonds and other income-producing assets as I cruise into retirement.

gvictor808

Cost basis and triggering taxes may make this pointless. If you wanna try daytrading BTC maybe play COIN or GBTC or MSTR or other equity heavily influenced by BTC price. Also no trade execution fees and spread is basically nothing (as opposed to fees and spread on BTC on most exchanges)

Shaglock

Bro in the last 6 months BTC had rallied from 18K to 23K then back to 18K then 25K then crashed to 16K with FTX. It’s merely 24K now don’t worry there still a couple of black swans ahead eg Genesis, GBTC, Silvergate, etc.. you will have another entry to get in. If your FOMO is too strong now then just DCA a bit weekly or even daily, preferably using auto invest. And when the dip comes DONT went all in just buy in tranches.

coinfeeds-bot

tldr; Digital asset manager Grayscale faces a lawsuit from its competitor, Osprey Funds, which claims it falsely promised to turn its Bitcoin Trust (GBTC) into a Bitcoin spot exchange-traded fund (ETF). The SEC has rejected several attempts to convert GBTC into an ETF in recent years. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Digital asset manager Osprey Funds has filed a lawsuit against Grayscale Investments in Connecticut Superior Court, alleging violation of the state’s Unfair Trade Practices Act. The suit alleges that Graylscale promoted participation in its Bitcoin Trust as a means of accessing a spot-based Bitcoin ETF through the conversion of its $12-billion GBTC. The SEC had rejected Graylescale's application to convert its GBTC into an ETF. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Oheson

If GBTC obtains approval for a spot ETF or allows redemption that so investors to obtain the actual BTC from the trust and you bought GBTC at $8/share, that is like buying BTC at $11,000. GBTC could be the best kept secret in crypto.

Westbrook_Level

All these idiots manipulating seemed to have destroyed themselves. Same goes with Barry publishing the leaked Alameda balance sheet on Coindesk which he owns. Later this domino effect would cause the bankruptcy of Genesis which he owns and the destruction of all faith in GBTC and DCG. These people remind me of people that live on earth now and don’t understand we are all connected and when you harm others you harm yourself.

ducknibble

I bought the GBTC bottom with some IRA money and it has been printing.

coinfeeds-bot

tldr; Grayscale Bitcoin Trust (GBTC) was launched in 2013 by Grayscale Investments, which later became a subsidiary of Digital Currency Group (DCG) in 2015. GBTC traded at a significant premium to its net asset value (NAV) up until early 2021. Institutional investors could buy or borrow Bitcoins and deposit them in exchange for shares of GBTC. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

QAnonRetard

ETHE is a scam, just like GBTC

AU-n-Time

Not much you can do paying into a pension as those are generally internally managed accounts. If you had a 401K for example, you could choose where to invest that money and GBTC might be a good way to gain direct BTC exposure pricing wise. You do not directly own BTC however, the trust is fully backed by BTC. The shares carry a .00091157 BTC equivalent value. GBTC is the largest single holder of BTC in the world. The beautiful part is that GBTC is currently selling at a whopping -42% discount to its Net asset value or NAV. You won't find that kind of a deal anywhere else that I am aware of.

vmatteoni

I own some GBTC in a Roth IRA I was hoping not to pay capital gains tax on and I also own some Bitcoin which serves as fuck you money in case everything just turns to shit. So I've got skin in the game no matter that happens and I still DCA into BtC every payday.

Stonk_Tendy

This is a really good explanation of the ETF problem related to GBTC https://m.youtube.com/watch?v=puEc9r7w7VI

Quentin__Tarantulino

Can you point me to what that is? I have GBTC in my IRA and it’s pissing me off.

RonPaulWasR1ght

What a lying snake that GBTC CEO is. Love how he dodges and "word salads" the questions the lady asks him. Blames the SEC that he can't turn it into an ETF and return the value to shareholders, but instead must sit there and collect the 2% fee (aww, poor guy) each year, which amounts to about $220 million. Yep, $220 million, for nothing but some paperwork each year. Oh, but he's "committed" to lowering the fee. Not gonna lower it right now, because you know, it's a competitive industry...but oh yeah he's committed to lowering it. Wow. And he sounds like a total bureaucrat when he talks.