BTC vs GBTC (Bitcoin Investment Trust)

3 ก.ค. 2018

Area plot: Bitcoin, Candles: GBTC

The GBTC is (was?) the only place where Bitcoin could be traded in the stock market. It works by holding several 100k BTC in trust and issuing shares on those holdings. It's been a round since 2016, so is a well established trust in the space (info, a bit out of date: investorplace.com/2018/06/how-the-bitcoin-investment-trust-is-a-life-or-death-play/) and is a pretty good "quasi-independent" indicator of investor sentiment (seekingalpha.com/news/3367516-big-bounce-cryptos-gbtc-16-percent). Just look at that green dong!

Interesting is the fund charges very high premiums to its users. Still I think it is relatively popular with traditional type investors, who are too weird to learn how to use a hardware wallet. Also the portfolio is totally managed making asset transfer (e.g. inheritance)
relatively easy in case of death (reddit.com/r/CryptoCurrency/comments/8nn8qq/crypto_millionaire_matthew_mellon_dies_leaving/).