Did y'all see this one…
Discussion
Gbtc will have to cut fees by at least 75% the day the etp goes live if they want to stay relevant.
Thanks for sharing! I think they will find ways to deny Blackrocks request. I’m not Getty my hopes up. Better to be surprised than disappointed.
“…Or you live long enough to see yourself become the villain.”
lmfao barry not wanting blackrock to get approved probably makes it more likely blackrock gets approved
Sure hope so. Barry dgaf about GBTC shareholders. He wants the fat fees in BTC (sweetened by the discount to NAV) to never end. Simple game theory.
Unbelievable
Here's how he should die:
100%
There's not many straws left to grab
It is my understanding (from several US ETF experts on the ole Twatter) that GBTC cannot just convert because they are a multi-asset trust and would have to liquidate, restructure, and then rebuy.
Grayscale is evil………
Death spiral 🌀 for GBTC is guaranteed with these type of actions.
The only honest money is #Bitcoin in self custody….…..
Anything with #Bitcoin attached is a product that is trying to fleece you!
So…if one owned some gbtc…
Seems like if the current gbtc discount to Nav goes away, there would be no reason why people wouldn’t transition to lower cost etf’s like blackrock (once approved). Do feel that discount is likely to resolve once any spot etf is approved?
Thanks for passing along Preston! If this doesn’t clearly showcase incentives, I don’t know what will. Good luck competing with blackrock barry!
DisgustingCentralizedGoof 🤢
All while using Coinbase as their own custodian. Wild
David Bailey been saying this for a long time.
2% annual fee is too high. Competition is necessary.
So is this right. If Blackrock and others ETF launches the secondary market on GBTC will tank driving the discount, however the primary trust members will still be locked in? Admin fees can remain high although there will be a greater pressure from primary members to turn the trust into an ETF/P, and now no excuse not to turn it. Only then - when GBTC has converted from trust to ETP - will the fees start to close and the discount disappears due to supply / redemption process? By this point the only way to maintain growth for a GBTC ETF is lower fees, better marketing, or a more accurate tracker to spot. Looking to be corrected on this if I’m wrong. Ty.
Plebs, what the most likely scenario for grayscale bag holders if DCG goes down? I have a friend with ONLY grayscale that I need to talk off the ledge.