Bitcoin etf imminent

Investment Analysis Clubs Macro Economic Trends and Risks
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This could be why GBTC has rocketed upwards along with Bitcoin.

Bloomberg ETF analysts James Seyffart and Eric Balchunas have assessed a high likelihood of 90% that spot Bitcoin ETFs will receive approval around January 10, 2024. However, Seyffart clarified that this probability relates specifically to the 19b-4 applications. For an ETF to be launched, a separate Form S-1 also needs to be approved.

https://financefeeds.com/bloomberg-hashdex-expect-secs-imminent-approval-of-bitcoin-etfs/

Andy

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Darn. All my money is tied up in tulip bulbs.

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Do those options expire in late May or June?

DB2

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I was thinking the same thing. As of writing, GBTC has .00089607 coins per share, and is priced at $35.34 per share, implying a BTC price of $39,438. But BTC is actually 10.4% higher than that.

If a BTC ETF does launch, I would fully expect the closed-ended fund to cease being, which would imply selling off the BTC the fund holds and returning proceeds to shareholders. That would imply 10% more than the shares were bought for (minus any fees Iā€™m sure)ā€¦

I tried to order a small amount (much less than 1% of my portfolio) through Vanguard and was denied with a cryptic message. Did not want it bad enough to call and ask why however (I have held it before, but was more than a year ago when I had any shares). But back when I held it GBTC was always trading at a premium to NAV, not a discount. I think its been over a year since it traded at a premium.

This is certainly fun to watch.

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At one time it was at a discount to Nav of 40 percent. Since they sued the government over the ETF it has been gradually going back to Nav. I agree it is interesting. If it is allowed an ETF, I think, it will be completely locked into our financial system.

Andy

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A Bitcoin ETF will allow people to own Bitcoin without the disadvantages of decentralization and blockchain.

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