![]() JStock is partnering with DriveWealth, LLC, a U.S. ★ Premium: Display your foreign stock portfolio value in local currency based on today exchange rate. ★ Premium: Unlimited number of watchlists and portfolios. ★ Premium: Selectable history chart period. ★ Premium: Unlimited number of stock news. ★ Premium: Beautiful portfolio summary chart. ★ Premium: Cloud storage integration with Windows, Linux, OSX's JStock - Free Stock Market Software. Material light and material dark theme UI.Home widgets for watchlist, world indices and buy portfolio.Annualized yield via performance chart.Peer feature, to compare against other companies' financial ratio within same industry.Dividend growth rate via 5 years dividend history chart.Financial ratios like EPS, P/E, ROE, etc.Free and open source JStock Desktop can be downloaded separately from JStock integrates seamless with JStock Desktop. It provides well organized stock market information, to help you decide your best investment strategy. The number of coins held by the trust fluctuates substantially as investors move money in and out of GBTC.JStock makes it easy to track your stock investment. The premium of share price over NAV has fallen but is still a whopping 47%.Īnother thing the article mentioned is that the amount of Bitcoins held in the fund will fluctuate significantly as people buy and sell GBTC, so that would probably explain the frequent daily discrepancies that I've seen: This lowered GBTC's share price and increased the supply adding more shares to meet demand, thus increasing liquidity. They received 90 additional shares on Jan. Grayscale recently declared a 91-for-1 stock split for the trust for shareholders of record on Jan. The article then mentions how the recent GBTC stock split has increased the supply and lowered the premium: Secondly, it is the only U.S.-based investment vehicle that provides direct exposure to Bitcoin through the purchase of a security." Firstly, there are fewer shares available on the market than there is demand. "While we cannot pinpoint a singular reason for the premium, we can surmise several factors. "Since the shares began quotation on the OTCQX market in early 2015, they have traded at a premium valuation to the NAV," said Sonnenshein. Michael Sonnenshein, managing director of Grayscale Investments, basically said the same thing in the article: "If GBTC was more liquid and larger, and Bitcoin had wider acceptance, then there would be closer correlation between the price of GBTC and the price of the underlying asset," said David Foster, a securities fraud litigator in Farmington Hills, Mich. It has only 176 million shares outstanding. The reason for GBTC's premium is the high demand for the small supply of shares. These typically trade at a premium or discount to its NAV. Instead of an ETF, people should think of GBTC as a closed-end fund. It explains the premium by noting there has been a high demand for GBTC and a small supply of shares: So investors would have to pay 69% more per share than the underlying asset is worth. However, shares of GBTC closed at $19.14, a 69% premium to the NAV. It uses a recent day as an example of how GBTC trades at a substantial premium relative to the value of the Bitcoins held by the fund:Īt the Jan. And unlike most ETFs, GBTC charges a high annual fee of 2% of assets." It trades on the over-the-counter market, which has less stringent participation rules than exchanges. It is not registered with the SEC and it doesn't trade on an exchange. It says that GBTC is not an ETF - it is a grantor trust. An Investor's Business Daily article discusses why GBTC's value does not match the value of the Bitcoins held in the fund.
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