Advertisement
AD

Main navigation

Error message

  • Warning: Attempt to read property "field_image" on null in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3147 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('Grayscale Bitcoin Investment Trust (GBTC), the only investment trust, is suffering from the prolonging market downtrend, Bloomberg reports. <a href="https://u.today/grayscale-launching-another-crypto-fund-for-traditional-investors">GBTC</a> shares took a nosedive, falling by a whopping 80 percent since December. Meanwhile, Bitcoin price fell by 66 percent compared to its <a href="https://u.today/bitcoin-hash-rate-hits-all-time-high-despite-recent-drop-in-price">all-time high</a>.
    
    <a href="https://u.today/defying-bearish-market-cryptocurrency-hedge-fund-blocktower-continues-to-grow">card</a>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    High management fees are the problem
    
    GBTC’s downfall, according to some investors, may be inextricably connected to its hefty expense fee, which reaches 2 percent. In sharp contrast to this, the SPDR Gold ETF has a 0.04 percent expense ratio. British market analyst Naeem Aslam claims that the GBTC expense ratio is “insane”, but the falling Bitcoin price makes it only worse. At the same time, managers of GBTC claim that such high fees serve as a safeguarding measure in the Bitcoin markets.
    
    GBTC premium hits a snag
    
    In a single week, the premium on GBTC fell by 10 percent, which further proves that the $2 bln is currently losing its luster. On Oct. 1, Lucid Investment’s Tyler Jenks took to Twitter to explain what this drop could actually mean. He claims that the crypto community can expect of these two scenarios: another major bearish trend or a new <a rel="nofollow" target="_blank" href="#">Bitcoin ETF</a>. Basically, he means that either investors are not keen on Bitcoin anymore or they have found an alternative in the likes of the <a href="https://u.today/swiss-startup-gets-103-mln-investment-to-set-up-crypto-bank">Swiss startup Seba</a> that strives to create a crypto bank.
    
    <a href="https://u.today/grayscale-launching-another-crypto-fund-for-traditional-investors">card</a>
    ') (Line: 1154)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1017)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    
  • Warning: Attempt to read property "entity" on null in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3147 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('Grayscale Bitcoin Investment Trust (GBTC), the only investment trust, is suffering from the prolonging market downtrend, Bloomberg reports. <a href="https://u.today/grayscale-launching-another-crypto-fund-for-traditional-investors">GBTC</a> shares took a nosedive, falling by a whopping 80 percent since December. Meanwhile, Bitcoin price fell by 66 percent compared to its <a href="https://u.today/bitcoin-hash-rate-hits-all-time-high-despite-recent-drop-in-price">all-time high</a>.
    
    <a href="https://u.today/defying-bearish-market-cryptocurrency-hedge-fund-blocktower-continues-to-grow">card</a>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    High management fees are the problem
    
    GBTC’s downfall, according to some investors, may be inextricably connected to its hefty expense fee, which reaches 2 percent. In sharp contrast to this, the SPDR Gold ETF has a 0.04 percent expense ratio. British market analyst Naeem Aslam claims that the GBTC expense ratio is “insane”, but the falling Bitcoin price makes it only worse. At the same time, managers of GBTC claim that such high fees serve as a safeguarding measure in the Bitcoin markets.
    
    GBTC premium hits a snag
    
    In a single week, the premium on GBTC fell by 10 percent, which further proves that the $2 bln is currently losing its luster. On Oct. 1, Lucid Investment’s Tyler Jenks took to Twitter to explain what this drop could actually mean. He claims that the crypto community can expect of these two scenarios: another major bearish trend or a new <a rel="nofollow" target="_blank" href="#">Bitcoin ETF</a>. Basically, he means that either investors are not keen on Bitcoin anymore or they have found an alternative in the likes of the <a href="https://u.today/swiss-startup-gets-103-mln-investment-to-set-up-crypto-bank">Swiss startup Seba</a> that strives to create a crypto bank.
    
    <a href="https://u.today/grayscale-launching-another-crypto-fund-for-traditional-investors">card</a>
    ') (Line: 1154)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1017)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    

Bitcoin Investment Trust Struggles Because of Falling Cryptocurrency Prices

Advertisement
Wed, 3/10/2018 - 7:36
Bitcoin Investment Trust Struggles Because of Falling Cryptocurrency Prices
Cover image via U.Today
Read U.TODAY on
Google News

Grayscale Bitcoin Investment Trust (GBTC), the only investment trust, is suffering from the prolonging market downtrend, Bloomberg reports. GBTC shares took a nosedive, falling by a whopping 80 percent since December. Meanwhile, Bitcoin price fell by 66 percent compared to its all-time high.

Related

Advertisement

High management fees are the problem

GBTC’s downfall, according to some investors, may be inextricably connected to its hefty expense fee, which reaches 2 percent. In sharp contrast to this, the SPDR Gold ETF has a 0.04 percent expense ratio. British market analyst Naeem Aslam claims that the GBTC expense ratio is “insane”, but the falling Bitcoin price makes it only worse. At the same time, managers of GBTC claim that such high fees serve as a safeguarding measure in the Bitcoin markets.

GBTC premium hits a snag

In a single week, the premium on GBTC fell by 10 percent, which further proves that the $2 bln is currently losing its luster. On Oct. 1, Lucid Investment’s Tyler Jenks took to Twitter to explain what this drop could actually mean. He claims that the crypto community can expect of these two scenarios: another major bearish trend or a new Bitcoin ETF. Basically, he means that either investors are not keen on Bitcoin anymore or they have found an alternative in the likes of the Swiss startup Seba that strives to create a crypto bank.

Related

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD