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capriole_charles
5 Jul 2022 pukul 17.44

The Real GBTC Premium (Capriole Investments) 

Bitcoin / United States DollarCoinbase

Deskripsi

The real Grayscale Bitcoin (GBTC) premium / discount.

Charts the premium / discount of GBTC trust versus the Bitcoin spot price.

The GBTC premium / discount is frequently calculated incorrectly as it needs to consider the amount of Bitcoin behind each share of GBTC, which changes over time.
This indicator allows for an estimate of that change through time, a more realistic representation of 1 BTC to 1 BTC within GBTC.

If the chart is red, at a discount = can buy a synthetic Bitcoin (GBTC) at a discount to the underlying asset Bitcoin.
If the chart is green, at a premium = can buy a synthetic Bitcoin (GBTC) at a premium to the underlying asset Bitcoin.

The user should also consider that to-date, GBTC charges an annual fee which depletes the value within the GBTC trust. Grayscale wants to convert GBTC to an ETF, but its applications have so far been rejected by the SEC.
If GBTC is converted to an ETF in the future, we might expect that any GBTC discount shown here will be neutralized; potentially offering an additional return to any holder of GBTC, though this cannot be known for sure until such a conversion occurs.

Catatan Rilis

Updated code to v5. Updated GBTC inputs.
Komentar
MOSCHINATOR
With such an accumulation, unloading may be more than one year, perhaps until 2024. Thank you!
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