The publicly traded shares of the Bitcoin Investment Trust (BIT) using the ticker GBTC, the first publicly traded vehicle tied to Bitcoin, have started trading yesterday with a good initial user interest. The initial share price was planned to be about one-tenth of the selling price of one Bitcoin minus fees, but we are already seeing the price per share rising above that level. So it seems that investors are interested in paying more for the about available shares now that public trading has started. GBTC shares are intended mostly for bigger investors that are not interested in operating with Bitcoins directly, but are also now available to everyone that prefers this kind of investment as an alternative to BTC trading. It will be interesting to see how will trading GBTC shares influence the price of Bitcoin in the following days when trading will hopefully increase significantly in volume as currently the traded volume is still pretty small – only 765 shares were traded yesterday.
(Credit: https://bit-profit.io/)
– To track the price and traded volumes of Bitcoin Investment Trust’s GBTC stocks…
