What’s Really Going On With Grayscale’s Bitcoin Trust?
Claims that Grayscale has bought up over 150% of newly mined bitcoin's are likely a myth. And now, some analysts believe the GBTC's Premium may be trumped up as well. https://t.co/kquHiPHcLx
Most people assume that tradable products, like GBTC are fairly priced in the market. However, derivative products like ETFs will only be fairly priced if there is a connection to the underlying instrument via a process like create/redeem. It's a shame the regulation requires many institutions to buy this price-inflated product rather than holding the actual underlying.