glad to see GBTC is now trading, but it make 0 sence to me that theres no one willing to get out of GBTC @ 650 and or placing sell orders above 650. Out of 1.4 millions shares 100 are up for sale, and at 4X stamps price, kinda ridiculous....
Most people who bought BIT shares are probably long-term investors who are not scared by the current price dip. (They were willing to be locked infor 6 or 12 months when they bougt.)
Also, after the BIT shares weer "transferred" to the shareholders, each shareholder still needed to do some paperwork before he could put his shares for sale. Perhaps most holders did not succeded in doing it, of did not have the time to do it, or did not give it a high enough priority.
Also, the average investor paid ~50 $/share, and the lucky ones who paid less include the founders. They may not want to sell for much less than that.
can individuals go trade on this market? or do they have to go through an "MP" ?
Anyone can buy, but they have to use a registered stock broker. Brokers may use other brokers.
also its really bizarre that coindesk did not report this news of GBTC trading.
CoinDesk must be waiting for Greyscale to tell them what to write. And Greyscale probbly wants to wait until there are some good news to tell.