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Techniques for value added digital currency returns ✌️【Remote Work】✌️Make your ₹500 grow rapidly with AI-backed investments.The reason behind the discount was due to the nature of the fund.
GBTC acted similar to a closed-end fund, which meant it lacked the inherent arbitrage mechanism that enables market makers to create or redeem shares at their discretion.“The bitcoin always existed in the trust but the lack of a redemption mechanism led to the massive discount to the underlying asset value,” explained Farrell.
“Most importantly this hurt a lot of individual investors as they underperformed the benchmark but also led to massive credit blowups since the product was used as collateral throughout the space.”Previously, liquidity was only available over-the-counter in the secondary market, but now that the fund has been converted to an ETF, Authorized Participants are able to create and redeem ETF shares at NAV, tethering the market price of the ETF to its NAV, said Matt Kunke, crypto research analyst at GSR, in an interview with CoinDesk.“As a result, the premium/discount will likely only vary by a few basis points from par moving forward,” added Kunke.Looking forward, Farrell noted that it will be interesting to see how the discounts to NAV on Grayscale’s Ethereum Trust (ETHE) performs now that the probability of an eventual spot ether ETF approval has risen.Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe.
Techniques for value added digital currency returns ✌️【Remote Work】✌️Start with ₹500 and earn big! High returns, low risk, and consistent growth.She holds a master's degree from New York University in Business and Economics and an undergraduate degree in Political Science from the University of East Anglia.
Lyllah holds bitcoin, ether and small amounts of other crypto assets.Techniques for value added digital currency returns Weekend Part-Time Jobs: Flexible and Lucrative