Topic: GBTC Bitcoin Investment Trust Observer - page 26. (Read 262354 times)
Record volume yesterday and positive spread back in full force!
Positive spread back.
Negative spread achieved.
"MASTERCARD INVESTS IN SILBERT'S DIGITAL CURRENCY GROUP"
https://www.cryptocoinsnews.com/mastercard-digital-currency-group/
https://www.cryptocoinsnews.com/mastercard-digital-currency-group/
Quote
The new company, Digital Currency Group (DCG), will include Silbert’s over-the-counter Bitcoin trading firm, Genesis Global Trading, as well as Grayscale Investments, a digital currency asset management firm.
Negative spread narrowly avoided.
Ok, *now* we have the lowest 24-hour spread. 
And it looks like we're going to have a negative spread when the market opens tomorrow.
Looks like it is. Although keep in mind the 10 to 1 ratio is eroded over time due to expenses. NAV at close yesterday was $27.37.
http://grayscale.co/bitcoin-investment-trust/ Click "Market Performance."
This is definitely a good point to keep in mind.
Now we're up to $294 on the bitcoin market price, and GBTC closed at $28.15.
New volume record, $300k traded at $50+.
I thought price would continue to drop as BIT holders began to fear missing out on the arbitrage opportunity.
It does not seem like much of an opportunity to me. Although the immediate sell price is great right now, the buying path is encumbered by the delay for the accreditation process (again) besides the additional fees, etc. I'm long-minded; do I really need this hassle?I thought price would continue to drop as BIT holders began to fear missing out on the arbitrage opportunity.
Naively, from the outside, it seems like an opportunity to double your coins/money at the cost of filling out a form.
What am I not seeing here?
1) waiting until my BIT shares actually arrive at my custodian (in-progress; should be soon (next week?))
2) place sell order (hopefully easy & quick)
3) use proceeds to purchase more BIT shares at NAV via my custodian (pain in the butt, prove I am accredited again, medallion signature guarantee, ...)
4) if I want to do it again then wait 12 months and return to step 1
Sorry to hear that. On my side, I am just at break-even with the GBTC in my 401k, despite the nice BTC run-up recently. But I knew I'd be too lazy to deal with getting raw BTC into a retirement account, so I'm not too upset.
New volume record, $300k traded at $50+.
I thought price would continue to drop as BIT holders began to fear missing out on the arbitrage opportunity.
It does not seem like much of an opportunity to me. Although the immediate sell price is great right now, the buying path is encumbered by the delay for the accreditation process (again) besides the additional fees, etc. I'm long-minded; do I really need this hassle?I thought price would continue to drop as BIT holders began to fear missing out on the arbitrage opportunity.
Naively, from the outside, it seems like an opportunity to double your coins/money at the cost of filling out a form.
What am I not seeing here?
1) waiting until my BIT shares actually arrive at my custodian (in-progress; should be soon (next week?))
2) place sell order (hopefully easy & quick)
3) use proceeds to purchase more BIT shares at NAV via my custodian (pain in the butt, prove I am accredited again, medallion signature guarantee, ...)
4) if I want to do it again then wait 12 months and return to step 1
So, basically they are holding the same amount of bitcoins for a long time.
Ok, *now* we have the lowest 24-hour spread.
And it looks like we're going to have a negative spread when the market opens tomorrow.
Looks like it is. Although keep in mind the 10 to 1 ratio is eroded over time due to expenses. NAV at close yesterday was $27.37.
http://grayscale.co/bitcoin-investment-trust/ Click "Market Performance."
Ok, *now* we have the lowest 24-hour spread.
And it looks like we're going to have a negative spread when the market opens tomorrow.
What about Gr[ae]yscale -- is it included in the deal?
EDIT: Apparently not, Greyscale is owned by Barry's Digital Whatever
Ok, *now* we have the lowest 24-hour spread.
With GBTC at $27.47 and Bitfinex at $265 or so, seems like the narrowest spread to date.
And, Gemini is above GBTC! https://cryptowatch.es/gemini/btcusd/1hr
Perhaps the days of the spread are over.
And, Gemini is above GBTC! https://cryptowatch.es/gemini/btcusd/1hr
Perhaps the days of the spread are over.
August 26th was a lower spread at close. Anyway, GBTC just shot up to $28.99, so no longer such a good deal.
I saw the surge shortly after I posted. Maybe my post led to some 401k FOMO buying
With GBTC at $27.47 and Bitfinex at $265 or so, seems like the narrowest spread to date.
And, Gemini is above GBTC! https://cryptowatch.es/gemini/btcusd/1hr
Perhaps the days of the spread are over.
And, Gemini is above GBTC! https://cryptowatch.es/gemini/btcusd/1hr
Perhaps the days of the spread are over.
August 26th was a lower spread at close. Anyway, GBTC just shot up to $28.99, so no longer such a good deal.
With GBTC at $27.47 and Bitfinex at $265 or so, seems like the narrowest spread to date.
And, Gemini is above GBTC! https://cryptowatch.es/gemini/btcusd/1hr
Perhaps the days of the spread are over.
And, Gemini is above GBTC! https://cryptowatch.es/gemini/btcusd/1hr
Perhaps the days of the spread are over.
Was the price flat at close the past two days? Data here don't seem to have been updated: http://www.otcmarkets.com/stock/GBTC/chart
Hey man, thanks for your work on this. I've checked this thread a gazillion times.
I was wondering whether the historic NAV's are plotted somewhere?
I was wondering whether the historic NAV's are plotted somewhere?
https://bitcointalksearch.org/topic/m.10439889
Hey man, thanks for your work on this. I've checked this thread a gazillion times.
I was wondering whether the historic NAV's are plotted somewhere?
I was wondering whether the historic NAV's are plotted somewhere?
It's in the second post, and you can find links for data back to 2013 also in the second post
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