Grayscale’s GBTC discount nears 50% causing further concern in | Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News
Grayscale’s GBTC discount nears 50% causing further concern in community
Grayscale Bitcoin Trust (GBTC) is trading at a record-low discount of 49.20% to the underlying assets’ net asset value (NAV), as of Dec. 8. The crypto community has become increasingly concerned with GBTC’s record discount trades. Speculations emerged around the product when its sister company Genesis halted withdrawals for customers’ citing FTX’s implosion. Reports later revealed that their parent company Digital Currency Group had debt amounting to roughly $2 billion — with the majority owed to Genesis. DCG likely used its GBTC’s holding as collateral for its loan with the crypto lender.
