GBTC Premium Going Down? Markets Getting Ready for SEC Approval!
GBTC is a Bitcoin Investment Trust which allows big official players to invest into Bitcoin.
For most of the year since it was released it has traded a premium to the spot BTC price.
So by looking at his and since its a stock market so prices come from Friday 17th February 2017 it looks like the spread between actual BTC and GBIT is getting smaller and smaller.
So if we take market price of BTC right now 1049.34/1 BTC and go for GBTC with 0.0935081 * 1049.34 we end up with 98.121789654 USD for today.
We predict that insiders from GBTC know the Approval will happen so GBTC price is going closer to normal BTC price now, while during the year it was up to 60% premium.
As a reminder the final decision on ETF approval will be at 12th March and you can bet at fe sites on the outcome of this.
Who will decide on Bitcoin ETF Approval?
Just two people!
If you are interested you can google their stances, i dont want to post their names here if something changes so prefer to leave this as image.
Important links
Since im closely following this topic since some time in my posts, here is a few you should read to understand the situation better.
Bet for Winklevoss ETF Approval by SEC on Bitshares DEX with STEEM!
If Winklevoss ETF Gets Approval Bitcoin wil go to 3000USD+
My b0i @kingscrown is on it! Resteemed as usual. Keep the great news rolling in!
https://steemit.com/steemit/@tradz/resteem-0rganization-dan-and-ned
Thanks man! Love the support
Heard of this GBTC thing but thought it was suspended from trade. Thanks for mentioning. Will check again.
Yeah its trading on markets ;)