Grayscale Bitcoin Trust Hits Record Low Discount
As of February 15th, Grayscale Bitcoin Trust (GBTC) is trading at a discount of 47.35% to the net asset value (NAV) of its underlying assets, which is the lowest it has been all year.
The current price of GBTC shares is $10.85, having increased by 4.43% in the last 24 hours, according to data from ycharts.
Earlier this year, the discount had narrowed to around 38.55% following community-led efforts to redeem the shares. However, it began to widen again due to the struggles of GBTC’s parent company, Digital Currency Group (DCG).
DCG has been experiencing financial problems at one of its subsidiaries, Genesis, which filed for bankruptcy on January 19th. This has led to concerns about the financial health of DCG and its potential impact on Grayscale.
READ MORE: IMF Urges Transparency in El Salvador’s Bitcoin Use
To raise funds, DCG has been selling some of its assets, including $22 million worth of its shares in Grayscale’s Ethereum (ETH) fund. The company is also trying to sell its news outlet, CoinDesk.
As a result, other Grayscale cryptocurrency trusts, such as Grayscale Ethereum Trust and Grayscale Ethereum Classic Trust, are trading at even higher discounts against NAV – 52.80% and 68.13%, respectively, according to ycharts data.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
