Back to News

GBTC Trading at its highest discount level of 21.36%

Twitter icon  •  Published 2 years ago  •  Hassan Maishera

The Grayscale Bitcoin Trust (GBTC) reached its highest discount level of 21.36% last week.

Recent data from Glassnode shows that the Grayscale Bitcoin Trust (GBTC) closed last week with a 21.36% discount, its highest level ever. The discount means that investors can buy GBTC shares at a price below the actual market value of Bitcoin.

GBTC is a closed-end fund, implying that it cannot easily remove or add shares to align with the inflows or outflows. Hence, the share price is usually determined by supply and demand instead of the underlying value of its assets.

Bitcoin has been underperforming in recent weeks and is currently trading below $46k per coin, down by more than 3% so far today.

Next article Meme Coins Soar: $100M Milestone Reached on TON Network

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.