Been trading GBTC in my IRA, going to take the 10% hit and distribute some of those earnings to buy some real BTC on the next pull back. The time for GBTC as trade bait will be all but over once ETFs come online. The value proposition for GBTC is pretty low considering what you get for your money, but it seems to be the FOMO vehicle for main Street.
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I agree. Not even an ETF. It seems Etrade and TDA are looking at enabling bitcoin trading somehow. Once that happens the premium in GBTC gets sucked out. It currently sits at a 38% premium.
I hope that crosses all accounts. I'm on E-Trade. It wouldn't surprise me if a crypto account was a different bucket, separate from retirement and brokerage accounts. In that case retirement money would still be waiting for ETFs.
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Yep, good point. Hopefully that is not the case, but it would make sense that it is. If they allow you to buy bitcoin in retirement accounts, bitcoin will fly past old highs in a matter of days... lot of money waiting in there to gain at least some exposure, which is exactly why GBTC trades at a 38% premium.