{"id":358052,"date":"2021-10-26T11:08:07","date_gmt":"2021-10-26T08:08:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gbtc-delivered-better-returns-than-bitcoin-etfs-last-week\/"},"modified":"2021-10-26T11:08:07","modified_gmt":"2021-10-26T08:08:07","slug":"gbtc-delivered-better-returns-than-bitcoin-etfs-last-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gbtc-delivered-better-returns-than-bitcoin-etfs-last-week\/","title":{"rendered":"# GBTC delivered better returns than Bitcoin ETFs last week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25706dc147c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25706dc147c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gbtc-delivered-better-returns-than-bitcoin-etfs-last-week\/#Grayscale_%E2%80%9Cdiscount%E2%80%9D_hits_one-month_lows\" >Grayscale &#8220;discount&#8221; hits one-month lows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/gbtc-delivered-better-returns-than-bitcoin-etfs-last-week\/#Ethereum_futures_ETF_next\" >Ethereum futures ETF next?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># GBTC delivered better returns than Bitcoin ETFs last week <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) outperformed the newly-launched exchange-traded funds (ETFs) last week, data shows.<\/p>\n<p>Figures shared by Grayscale executives among others confirm that GBTC quietly delivered better investor returns since Oct. 19.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Grayscale_%E2%80%9Cdiscount%E2%80%9D_hits_one-month_lows\"><\/span>Grayscale &#8220;discount&#8221; hits one-month lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While talk continues to revolve around Bitcoin futures ETFs and their market impact, industry stalwart Grayscale is biting back.<\/p>\n<p>Amid claims that the newly-launched funds are sucking custom away from GBTC, the firm&#8217;s chiefs were quick to note that the latter was in fact a better bet since launch day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/6df7ebe8-4921-41f3-88ea-810e89966f42.png\"><figcaption style=\"text-align: center;\"><em>GBTC vs. BITO performance chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Over the seven days to Monday, GBTC returned around 8.8%, while the pioneering Bitcoin futures ETF, ProShares&#8217; Bitcoin Strategy ETF (BITO), fell 0.5%.<\/p>\n<p>This was thanks in part to the GBTC premium heading higher, reaching its lowest discount to spot price since early September this week.<\/p>\n<p>Concerns previously centered on Grayscale&#8217;s potential inability to rescue the negative premium as more ETFs launched, this in turn countered by those who argued that the two instruments&#8217; value proposition cannot be compared.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/df6531b4-691a-48ff-9327-67e71584ee30.png\"><figcaption style=\"text-align: center;\"><em>GBTC premium vs. holdings vs. BTC\/USD chart. Source: Bybt<\/em><\/figcaption><\/figure>\n<p>Barry Silbert, CEO of Grayscale parent company Digital Currency Group, further\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/barrysilbert\/status\/1452733090871271424\">highlighted<\/a> GBTC&#8217;s higher trading volumes. For Monday, these totalled $374 million, while BITO managed $286 million.<\/p>\n<p>As Cointelegraph reported, Grayscale CEO Michael Sonnenshein recently repeated his pledge to convert GBTC itself into an ETF, formally <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lying to do so with United States regulators.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_futures_ETF_next\"><\/span>Ethereum futures ETF next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, Tuesday sees the launch of the third U.S. Bitcoin ETF, this time from VanEck.<\/p>\n<p><strong><em>Related:\u00a0BTC price \u2018on the way to $90K\u2019 \u2014 5 things to watch in Bitcoin this week<\/em><\/strong><\/p>\n<p>Long locked in a battle with the Securities and Exchange Commission (SEC) over bringing such a product to market, the release marks a line in the sand for longtime market participants.<\/p>\n<p>The fate of physical Bitcoin ETFs \u2014 those with BTC actually delivered \u2014 still hangs in the balance ahead of an SEC decision on the first applications next month.<\/p>\n<p>&#8220;If regulators cared enough about the best interest of investors, they would approve a physical Bitcoin ETF soon,&#8221; VanEck director Gabor Gurbacs <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gaborgurbacs\/status\/1450477523549163521\">argued<\/a> last week. <\/p>\n<blockquote><p>&#8220;14 countries in Europe, Canada, Brazil and other nations have access to physicals Bitcoin ETPs. Physical &gt; Futures.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/470af9a2-c8fc-43d0-ac8f-8580d213d1a2.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin ETF decision schedule. Source: Arcane Research<\/em><\/figcaption><\/figure>\n<p>Popular trader and analyst Scott Melker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1450960184814325763\">countered<\/a> that an Ethereum futures ETF will precede the physcial Bitcoin go-ahead.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/gbtc-delivered-better-returns-than-bitcoin-etfs-last-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# GBTC delivered better returns than Bitcoin ETFs last week &#8221; Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) outperformed the newly-launched exchange-traded funds (ETFs) last week, data shows. Figures shared by Grayscale executives among others confirm that GBTC quietly delivered better investor returns since Oct. 19. Grayscale &#8220;discount&#8221; hits one-month lows While talk&#8230;<\/p>\n","protected":false},"author":1,"featured_media":358053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvZmFjMzIwODctMGJmOC00NjcwLTgxMTQtNDcwYjFmM2ZhODc5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75849,82548,76550,73785],"class_list":["post-358052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-etf","tag-gbtc","tag-grayscale","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=358052"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/358053"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=358052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=358052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=358052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}