[this is an updated rewrite of post #2090]
GBTCs absurdly high premium to NAV (74% as of the close Jan. 30) has been due to the false narrative that GBTC is the only available pure-play way of gaining exposure to bitcoin in an exchange-traded vehicle. In fact, there are alternatives in Europe that trade at a near-zero premium to NAV, and these are available to U.S. investors, including IRAs, depending on the broker used.
Who is consistently presenting this false narrative, though? It doesn't have to be the "only available pure-play way of gaining exposure to bitcoin" for it to still be the one that is *most* available to investors.