Home Scam/Fraud The World’s Biggest Bitcoin Trust Seems To Be Available For Purchase. Whether...

The World’s Biggest Bitcoin Trust Seems To Be Available For Purchase. Whether This Might Be A Price Scam

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  • For institutional investment managers, GBTC has become a popular option to get into crypto. Ark Investment, owned by Cathie Wood, holds 7.9 million units for GBTC. Next Generation Internet ETF (ARKW), which is worth around $200 million.
  • Digital Currency Group, Grayscale’s parent firm, has authorised $250 million in share repurchases across its nine publicly traded trusts.
  • The trust traded at a 29 percent discount to its NAV of $34.84 per share at Monday’s closing price of $24.67.

Anything trading at 70 cents on the dollar in closed-end funds could appear too good to pass up. The Grayscale Bitcoin Trust is currently offering such a deal to investors. However, in this scenario, a reduction may not be worth the cost.

Ark Investment, owned by Cathie Wood, holds 7.9 million units for GBTC

With over 700,000 investors and $24.1 billion in assets, the Grayscale Bitcoin Trust (ticker: GBTC) is the world’s largest publicly listed…

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