New ask
CSTI 50.00 4000 15:45
make that 4000
I first worried about this as a looming negative over the weekend. I think that was a nervous over-reaction. CSTI's bid shows an intent to buy at least 4k more at the same 50.00 rate that 4,000 new shares entered the market at today.
My read - "Don't worry Maxim - we'll be here buying again at Monday. At $50. Not $49."
Why would one buy a BTC for $490, when the price on US-regulated exchanges is $244?
I posted the only logical theories I can think above a few posts above.
Simplified, I postulate we will find GBTC equilibrium at the same price that COIN becomes available.
I think this will be general market sentiment. Once COIN is available, it will be more desirable. At that point, GBTC purchases will track with it, for when it falls below, it will be an arbitrage opportunity.
A nice day of trading. Nice to see real volume, a true middlepoint hit, and a first fight for which side will pull the other.
Remember there are two camps of shares. Once sold, they become more liquid. I expect volume to ramp week to week as this liquid portion increases.