GBTC: Bitcoin Investment Trust (Not an ETF) OTC:QX Message Board

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Non-Tech : GBTC: Bitcoin Investment Trust (Not an ETF) OTC:QX

GBTC 83.39

-3.8%

4:00 PM EDT

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To: Elroy who wrote (249)	11/26/2023 12:50:46 PM
From: Madharry	of 270

I will be happy to address your questions to the best of my ability. Initially GBTC was attractive to large investors because they had agreements with GBTC that whenever they wanted GBTC would redeem their shares with bitcoin equivalent. when the fund shares started to sell at a discount that is what large investors tried to do but the SEC prevented that from happening because it said that would make GBTC act like an ETF but it was not licensed to do so. so there is no arbitrage possibility until GBTC becomes an ETF. then large investors can exchange their shares for actual bitcoin if they choose.

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