The price premium on Grayscale Bitcoin Trust (GBTC) shares fell from 38% to values below 3% during the month.
The premium shows the difference in the value of the asset on Ethereum Code the open market and in the fund.
Dynamics of the price premium on GBTC. Data: The Block.
Such a significant decline in the index could indicate that investors are selling shares after the end of the freeze period.
GBTC assets are traded on the OTC markets. Accredited investors can buy these securities based on the net asset value of the fund. The shares can only be sold on the secondary market six months after purchase, as required by the Securities and Exchange Commission (SEC).
According to the latest data, the total value of crypto-assets managed by Grayscale Investments is $24.2bn.
01/22/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $24.2 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC pic.twitter.com/YHQJL8Ftru
– Grayscale (@Grayscale) January 22, 2021
Bitcoin trust accounts for the lion’s share of assets at $20.1 billion (83%). The Ethereum-based investment product is also popular among investors at $3.39bn (14%).
Grayscale Bitcoin Trust’s asset growth last year (thousands of BTC). Data: grayscale.co, ForkLog analyst report 2020.
As a reminder, Grayscale Investments increased its bitcoin trust assets by a record $1.2bn in the last week. The company acquired 16,244 BTC in just one day (January 18).