Wait so someone wants to buy 14.5 bitcoins at $551 each?
Yes. And it looks like 15 coins changed hands around that price already today. Clearly, GBTC is going to drop hard soon OR BTC is going to rally. Perhaps both and meet somewhere in between. Yes, there is artificial scarcity in GBTC, but if this price disparity persists, as volume increases the psychological effect is going to cause sellers in the normal exchanges to stop selling. It would indicate that there is a large untapped group of buyers that are now able to enter the market. Kind of like when the gold ETFs came out.
GBTC needs much more volume in order to really affect the generally accepted spot price of BTC in any significant way. It's a good thing to see it going up, that way we know people want an ETF, but it won't drive the price up with the current levels of volume we're experiencing up to now!
