A product of the liquidity crisis caused by the collapse of the FTX exchange, the world's largest bitcoin (BTC) fund, Grayscale's GBTC , recorded an increase in the discount it had already been suffering from the underlying BTC value of its shares.
For the fund's managers, the Digital Currency Group (DCG), the GBTC fund would bring in more than USD 200 million this year, by virtue of the stipulated 2% annual fee charged to investors.
A GBTC share is trading, at the time of writing, at USD 8.12. But if it is valued at its Native Asset Value (NAV), the 0.0009140 BTC contained in each share, it should cost USD 15.38.
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