The premium on Grayscale Bitcoin Trust (GBTC) shares over the month has fallen from 38% to below 3%.
The premium reflects the difference between the asset’s market price and its value within the fund.
Dynamics of GBTC premium. Data: The Block.
Such a pronounced decline may indicate investors selling shares after the lock-up period.
GBTC assets are traded on over-the-counter markets. Accredited investors can purchase these securities based on [simple_tooltip content=\’Net asset value per share.\’]net asset value per share[/simple_tooltip]. Selling shares on the secondary market is only possible after six months from purchase, in accordance with the US Securities and Exchange Commission (SEC) requirements.
According to the latest data, the total value of crypto assets under management by Grayscale Investments stands at $24.2 billion.
01/22/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $24.2 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/YHQJL8Ftru
— Grayscale (@Grayscale) January 22, 2021
The lion’s share of assets goes to the Bitcoin Trust — $20.1 billion (83%). Also among investors, the Ethereum-based product is popular — $3.39 billion (14%).
Growth in Grayscale Bitcoin Trust assets last year (thousand BTC). Data: grayscale.co, ForkLog’s 2020 analytical report.
Earlier this week, Grayscale Investments increased the assets of the bitcoin trust by a record $1.2 billion. In a single day on January 18, the company purchased 16,244 BTC.
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