Grayscale Bitcoin Trust, discount rate hits record high again | coindesk JAPAN | Coindesk Japan

Discounts for Grayscale Bitcoin Trust (GBTC), the world’s largest listed Bitcoin fund, are once again nearing all-time highs. According to TradeBlock data, the GBTC discount rate reached its highest level since December 29 last year on February 13.

The Financial Times reported Wednesday that Digital Currency Group (DCG) has begun selling several investments managed by its subsidiary Grayscale at significant discounts.

The discount rate as of February 7 was 43%, and has now expanded to 47%, the highest discount rate since late December 2022 when it hit a record high of 49%. By early January, it had recovered to about 39%.

GBTC has been trading at a discount since March 2021 (TradeBlock)

“The Bitcoin (BTC) price has increased recently, but at the same time, the tightening of regulations has forced GBTC and Bitcoin prices to diverge somewhat, which would have hurt GBTC’s value,” Storm said. Partners’ Sheraz Ahmed said:

Bitcoin gained about 40% in January, but has since fallen slightly, falling about 9% since the beginning of February.

“Grayscale is at war with the most powerful people in crypto on many fronts,” Ahmed said, but predicts that “they will find a calm lull.”

“But no one could have noticed the FTX demise. If Grayscale collapsed, it could have a similar impact,” he continued.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Nikhilesh De/CoinDesk
｜Original: Grayscale’s GBTC Discount Widens to Near-Record High