After plummeting to a multi-year low of -21%, the Grayscale Premium has normalized quite a bit to around -4%. The metric could return back to a positive territory later this summer as the majority of GBTC investors will see their holdings released.
Grayscale Premium Returns to Normal Ground
Founded in 2013, Grayscale is the largest crypto asset manager enabling accredited investors to receive exposure to BTC and other crypto assets without worrying about storing and managing their holdings. However, this convenience comes with a price – an annual fee of 2%.
Following the massive growth of the company’s AUM in late 2020 and early 2021, when it expanded by more than 10x in months, the inflows dried out at the end of Q1 this year. The decline in fresh funds came amid competitive funds launching in Canada and Europe, and several filings for Bitcoin ETFs in the States.
GBTC Inflows. Source: Glassnode
The deviation between supply and demand could lead to the creation of a premium. It rep
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