2024-03-12 00:26:22 ET
Summary
- Grayscale Bitcoin Trust has become one of the worst spot Bitcoin products for investors in the US market.
- Though reduced, the management fee of 1.5% for GBTC is still highly uncompetitive compared to other spot BTC ETFs.
- GBTC has experienced significant outflows and a decrease in BTC holdings due to the fund's uncompetitive expense ratio.
It has been roughly four months since I last covered the Grayscale Bitcoin Trust ( GBTC ) for Seeking Alpha. At that time, I was bullish, though I did mention the fact that I was decreasing my position in the fund:
I've minimized my exposure to GBTC, in part because the NAV window has closed considerably, and also because I think BTC will go through some consolidation before it takes another leg higher.
Read the full article on Seeking Alpha
For further details see:
Grayscale Bitcoin Trust: AUM Flight Says It All (Rating Downgrade)