Oddbean new post about login | logout Why will the ETF approval close the GBTC account? I have funds in both - MSTR & GBTC - and have been wondering about the approval's expected impact on both.
Not the account, the discount. The etf approval should mean more people buy it, & once it’s launched, people will redeem until the discount closes. I think MSTR is being priced not just for its operating company + the bitcoin but also as a Bitcoin etf. So when an etf with much lower fees and more reputable than grayscale launches, that should reduce the MSTR premium some (by premium I’m talking about the price of MSTR over the value of its Bitcoin holdings).