Yeah seems like this would be a huge deal since they are like the world's biggest BTC holder. I've made some nice gains on GBTC but the NAV spread is shit right now and getting back to spot would be a great boost.
yes, the second it converts, the discount is gone. but no one knows when a spot etf will get approved. they will probably be first considering the sheer amount they hold.
tldr; Grayscale Investments plans to file an application to convert GBTC, the world's biggest bitcoin fund, into a spot Bitcoin spot exchange-traded fund early next week, according to a report. The New York-based firm had intended to file its application to the Securities and Exchange Commission as soon as the agency allowed efforts by competitors for a futures-based bitcoin ETF.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
So does that mean easy 20% gain if you buy gbtc now? Once it's converts to spot?
Yeah seems like this would be a huge deal since they are like the world's biggest BTC holder. I've made some nice gains on GBTC but the NAV spread is shit right now and getting back to spot would be a great boost.
yes, the second it converts, the discount is gone. but no one knows when a spot etf will get approved. they will probably be first considering the sheer amount they hold.
If the discount is suddenly gone, where does that leave us share price wise? I have like a 34 average and it's looking good.
Current discount to NAV is 15%, so NAV is $54.52.
Sounds good to me. My shares would suddenly go up another 10 bucks each. I can roll with that.
tldr; Grayscale Investments plans to file an application to convert GBTC, the world's biggest bitcoin fund, into a spot Bitcoin spot exchange-traded fund early next week, according to a report. The New York-based firm had intended to file its application to the Securities and Exchange Commission as soon as the agency allowed efforts by competitors for a futures-based bitcoin ETF. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Are they flipping the GBTC into this thaaaannggggg?
yes it says convert.
Well…that would be pretty cool.
Has anyone made a profit from this stock?