epeakin
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Michael Saylor: “If anything does get approved, my belief is… the GBTC trust will get approval to become a spot ETF first. I can’t really know the future, but I think it’s more than 50% likely based upon all the facts that I see right now.”
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It would be pretty messed up if GBTC wasn’t approved when others are. They have so much Bitcoin locked up.
Boy I hope so. Portfolio isn’t looking great but I’ve been stacking gbtc with margin to capitalize on this recent downswing/discount. If it works out I’ll be very happy.
It amazes me that GBTC is trading at a 30% discount to NAV. Taking the 2% management fees into account, it means the market thinks it will take GBTC close to 15 years to turn into a redeemable ETF. That’s incredibly pessimistic. I’ve been loading up on GBTC and OBTC just for the arbitrage.
Time table for spot etf approval?