haha grayscale printer go brrrrrrrr
current:
Shares Outstanding419,091,700‡
Bitcoin per Share0.00095775‡
= 401,385.075675 Bitcoins owned by grayscale
3 days ago
Shares Outstanding412,808,000‡
Bitcoin per Share0.00095786‡
= 395,412.27088 Bitcoins owned by grayscale
source: https://grayscale.co/bitcoin-trust/
How does this work. example: Joe buys Bitcoin etf using Etrade. That doesnt impact bitcoin’s price. But eventually the Bitcoin ETF has a 20% premium so the ETF sells some shares and uses the money to buy more bitcoin. They will continue to do this until the premium is gone and the premium is currently +16% so they will be buying thousands of more Bitcoins until it balances out.
submitted by /u/atrueretard
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