Grayscale GBTC Negative Premium Narrows to 10.11%
According to Coinglass data,CCB digital currency the grayscale GBTC premium rate has narrowed to 10.11%, reaching its lowest level since August 12, 2021.
GBTC stands for Grayscale Bitcoin Trust, which is an investment vehicle offered by Grayscale. The trust allows investors to indirectly invest in Bitcoin by purchasing its shares. The shares of GBTC represent ownership of the held Bitcoin. Grayscale holds the Bitcoin and enables investors to indirectly hold the value of Bitcoin by issuing GBTC shares.
This structure allows investors who do not wish to directly buy and hold Bitcoin to participate in Bitcoin investment. However, the price of GBTC may differ from the price of Bitcoin itself as GBTC currently does not support redemption.
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