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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.31+0.6%Nov 7 4:00 PM EST
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To: TobagoJack who wrote (197316)3/16/2023 4:29:26 AM
From: nicewatch  Read Replies (1) of 217637
 
You probably saw this before but if not here you go: archive.is

Along with the outcome of the court case there is another potential hoop to jump through which is can the trust known as GBTC successfully extricate itself from parent company DCG's lending arm Genisis which is effectively bankrupt and negotiating with creditors on settlements.

The huge GBTC discount to NAV was large and existed for a while and better correlated to the more recent bull/bear cycle. When GBTC traded at a premium to NAV during part of the last bull cycle it was a funding mechanism for some funds and qualified investors that invested directly with Grayscale for restricted shares, I think they were locked up for 6 months but could be wrong, and after those shares unlocked they could be sold into the market at the premium to NAV. Worked great for all while bitcoin was going up and GBTC collected its 2% fee. One sticky point for some is that has GBTC ever independently verified its BTC holdings and wallet addresses? The last I read they sort of demurred and made excuses. I'm not saying they don't have the BTC they claim to but there are ways to prove it and as far as I know they have not. Hopefully someone here is better informed than I am about this.
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