Quote from: JayJuanGee on Today at 06:29:23 AM

Quote from: Kiley33 on Today at 06:12:49 AM

Quote from: JayJuanGee on Today at 04:07:18 AM

Quote from: Kiley33 on Today at 03:18:30 AM

Quote from: JayJuanGee on July 28, 2021, 06:25:35 PM

Quote from: Kiley33 on July 28, 2021, 08:16:59 AM

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Grayscale Bitcoin Trust does not currently operate a redemption program and may halt creations from time to time. There can be no assurance that the value of the shares will approximate the value of the Bitcoin held by the Trust and the shares may trade at a substantial premium over or discount to the value of the Trust's Bitcoin. The Trust may, but will not be required to, seek regulatory approval to operate a redemption program.
So, when you invest in Grayscale shares, you are actually locked into that, and the only way to get rid of those is on the secondary market, after a minimum of six months.

Repurchase is not supported. Once purchased, it cannot be exchanged for digital currency.
Because this investor wants to cash out, he can only sell his trust shares through the secondary market.
In this way, Grayscale may become one of the largest Bitcoin holders in the market.

I don't disbelieve anything that you are saying here, Kiley33, but really think about the matter, you should be providing a link or describe your source for your above quote. I presume that it is some "official" Grayscale announcement no?

In other words, link or it did not happen.

Take Bitcoin as an example: investors can only exchange BTC for GBTC, not GBTC for BTC. If investors want to sell GBTC, they can only go through the secondary market, so his mechanism will make his position bigger and bigger.
Moreover, the Grayscale management fee is deducted from the encrypted currency held by Grayscale, because Grayscale Bitcoin Trust does not clearly indicate the trust period, which means that the coins held by the trust will slowly be transferred to Grayscale hands.
I only learned it recently. If my point of view is wrong, I still need my help to point it out, thank you.

I am not questioning your opinion... I am asking you to provide a link to the quote that you provided in your earlier post..

If you quote something in your post, then you should provide a source in order that forum members know from where you got your quote. Do you have a link for that quote?

Can take a look at thishttps://studio.glassnode.com/metrics?a=BTC&category=Institutions&m=institutions.PurposeEtfHoldingsSum

That is not what I am asking.

I am asking from where you got this quote:

>>>>>>>>>>

Quote

Grayscale Bitcoin Trust does not currently operate a redemption program and may halt creations from time to time. There can be no assurance that the value of the shares will approximate the value of the Bitcoin held by the Trust and the shares may trade at a substantial premium over or discount to the value of the Trust's Bitcoin. The Trust may, but will not be required to, seek regulatory approval to operate a redemption program.
So, when you invest in Grayscale shares, you are actually locked into that, and the only way to get rid of those is on the secondary market, after a minimum of six months.

<<<<<<<<<<

Do you have a link for the quote source?

Oh，，， sorry, I misunderstood what you meant,
OP posted it. What I later merged were charts and comments. You can view the first page of OP's post.

Quote from: fillippone on June 18, 2020, 05:58:20 PM

So, while each share has a "bitcoin per share" equivalent, the NAV is the US Dollar equivalent of this measure.

As per SEC regulations, The Shares are not freely Transferable. We read on the termsheet, and on the fine print we discover that:

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Eligible for resale in accordance with Rule 144 under the Securities Act after a one-year holding period. Pursuant to Rule 144, once the Product has been subject to the reporting requirements of Section 13 under the Exchange Act for a period of 90 days, the minimum holding period will be shortened from one year to six months. We cannot assure you that a secondary market will develop.

So the subscriber of such shares exposes herself to a 6 months holding window.
At the end of this window she will be free to sell the shares in the open market. Provided that there is one, as Grayscale is not involved in such.

Also, Grayscale is not accepting those shares back, as buyback agreement are not guaranteed:

Quote
Grayscale Bitcoin Trust does not currently operate a redemption program and may halt creations from time to time. There can be no assurance that the value of the shares will approximate the value of the Bitcoin held by the Trust and the shares may trade at a substantial premium over or discount to the value of the Trust's Bitcoin. The Trust may, but will not be required to, seek regulatory approval to operate a redemption program.

So, when you invest in Grayscale shares, you are actually locked into that, and the only way to get rid of those is on the secondary market, after a minimum of six months.