Bitcoin24h $60,806.11-3.75%

Ethereum24h $1,589.79-9.76%

BNB24h $574.33-4.45%

XRP24h $1.10-5.28%

Solana24h $65.00-5.94%

TRON24h $0.3218-2.52%

Hyperliquid24h $58.55-13.58%

Dogecoin24h $0.0825-7.30%

UNUS SED LEO24h $9.75-1.60%

Stellar24h $0.1925-6.45%

The most expensive bitcoin fund might be MSTR, not GBTC

Buying MSTR appears to earn you 98% value in MicroStrategy’s bitcoin, but when including Class B shares and convertibles, it’s less than 85%.

Grayscale bought bitcoin for a decade then became its #1 seller overnight

Grayscale must ensure that GBTC’s share price tracks bitcoin’s price. This requires selling and buying bitcoin every day.

Silbert is under fire after $580 million in outflows from Grayscale’s Bitcoin Trust (GBTC) last week was blamed for a dip in bitcoin’s price.

Grayscale has won a victory in its case against the SEC, with the judge ruling previous denials of GBTC ETF conversion were “arbitrary.”

Usually trading way above bitcoin’s spot price since 2015, Grayscale’s Bitcoin Trust is currently at a -35% discount to its Net Asset Value.