Grayscale Bitcoin Trust (GBTC), which has been trading at a discount for its second month, has hit a new all-time low.
Prize for GBTC fell to -18.92%. This means that the GBTC price is about 19% less than the Net Assets Value (NAV). This is the lowest figure for the entire lifetime of the trust.
GBTC began trading at a discount at the end of February.According to TheBlock experts, this was due to increased competition - the launch of ETFs in Canada - and a low inflow of new funds to the trust. Grayscale shareholders have already started to suffer losses.
Management is already considering converting GBTC to Bitcoin ETF. However, according to the CEO, regulators in the US are still not ready to launch such a product.
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According to the materials www.theblockcrypto.com