GBTC was just another hype shit that didn't even work, this market is collapsing, nobody wants to get in at these prices.
Now, now. GBTC seems to have settled at around $29. If there's any reason to believe GBTC should trade at a premium, then this might reflect that. Of course, I'm still waiting for a rise in Bitcoin proper with a corresponding rise in GBTC with significant volume to confirm. It's really too early to draw conclusions. But, yes it was a bit hyped.