Gbtc trades on s premium of around 40% I believe. For each share you get 0.09258535 btc, so at current prices of $6355 that makes a share worth $587.84. However a share costs $835 (according to Haejin). That’s a mark up of approx 42%.
I therefore would much rather but btc directly, however most investment vehicles such as pensions do not allow you to hold btc, so this is where gbtc is cleaning up.
Unfortunately, my pension doesn’t allow gbtc either!!
You need to include BCH and BTG as well! They have announced they would sell all BCH and pay back to GBTC holder as dividend. I believe they will do the same to BTG and the coming fork.
I didn’t realise that. That would make the figures better I suppose but I’m really tired on a train on my way home so I’ll leave it to another to do the additional calculation!