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Grayscale’s Ethereum Trust Premium Follows Bitcoin Sibling Into Flipping Negative – Yahoo Finance

GBTC’s premium flipped negative one day earlier.



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(Bloomberg) — The worlds largest Bitcoin fund is selling off faster than the cryptocurrency itself as investors rush to the exits.The $31.6 billion Grayscale Bitcoin Trust (ticker GBTC) plunged 22% this week, outpacing a 17% decline in the worlds largest cryptocurrency. Thats evaporated GBTCs once-massive premium to the Bitcoin it holds, with the price of GBTC closing 3.8% below the value of its underlying holdings on Thursday — a record discount, according to data compiled by Bloomberg.Its an…

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