BusinessDigital Currency GroupGBTCGrayscale

DCG Authorizes $750 Million In GBTC Purchases As Discount Persists

Grayscale’s parent company authorized up to $750 million in GBTC purchases as the trust’s shares continue to trade at a discount to NAV.

Earlier today, Digital Currency Group, the parent company of Grayscale Investments,

Now, with the premium to NAV deep in negative territory, and with newly issued shares of the trust locked from six months before being able to be traded on the secondary market, these arbitrageurs are underwater.

At the time of writing, GBTC is trading at a -12.07% discount to NAV, as seen on https://bitbo.io/

Article First Published on Bitcoin Magazine

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