Grayscale’s GBTC fund attracted attention with the relatively large large gap between its share price and Bitcoin (BTC) spot prices. The closing of the gap may become a signal for future BTC developments, as currently the share price converges with BTC positions.
GBTC Gap Remains Dynamic, May Move Within Hours
At the moment, there is still a small gap, which suggests GBTC buyers are not willing to pay more for the shares. Timothy Peterson, Bitcoin analyst, believes the gap has a historical record of closing in, thus the current situation suggests a price move on either side.
This gap in $GBTC vs. $BTC must close. Either $GBTC up or #bitcoin down
GBTC shares traded at $10.06 on Tuesday, achieving a premium very fast, with a 12% growth in the past day. Price positions can potentially shift within hours, as Grayscale data showed a…
Click to continue reading on its source location…