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The Largest Bitcoin Fund Just Hit a Record Drop of -35% – A Warning for BTC Price? By Cointelegraph


The Largest Bitcoin Fund Just Hit a Record Drop of -35% – A Warning for BTC Price?

Grayscale Trust (GBTC), a crypto fund currently holds 3.12% of all Bitcoin (BTC) supply, or more than 640,000 BTC, is trading at a record discount to the value of its underlying asset.

On September 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data.

GBTC discount against spot price. Source: YCharts
Daily price chart of GBTC. Source: TradingView
GBTC 12-month adjusted Sharpe rate. Source: PortfolioSlab.com
Cash flow by supplier. Source: CoinShares
NDAQ daily price chart against BTC/USD. Source: TradingView
compared to yields on 10-year and 2-year U.S. Treasuries. Source: TradingView
Eight hour BTC/USD price chart. Source: TradingView / Capo of Crypto