If the reduction continues, DCG will authorize $ 750 million in GBTC purchases

Grayscale's parent company authorized up to $ 750 million in purchases of GBTC, with shares in trust trading below net asset value. Digital Currency Group, parent company of Grayscale Investments, announced that it has authorized an additional $ 750 million for Grayscale Bitcoin Trust (GBTC) to be acquired by the company. This is a $ 500 million increase from an authorization announced from DCG last month. As of April 30, the parent company had purchased $ 193.5 million GBTC shares to reduce the discount between GBTC shares to zero net asset value (NAV). With many funds managing the cash and transport trade over the past year and easy access to Bitcoin products that were still badly lacking in the legacy financial system, GBTC's size has grown exponentially as a return opportunity. “ risk-free '' aroused great interest in watching investors. To earn return that can repurchase shares in NAV directly from Grayscale. BTC, held by Grayscale since November, the NAV premium is deep in the downside zone and these arbitragers are under water as the newly issued shares of the trust are frozen six months before trading on the secondary market. At the time of writing this article, GBTC is trading at a -12.07% discount on net asset value as shown at https://bitbo.io/.

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