Re: Everything you wanted to know about Grayscale BTC Trust but were afraid to ask!
Due to the structure of the trust, the trading price of GBTC shares is at a significant premium. Authorized and institutional investors can purchase GBTC stocks at NAV (Net Asset Value), but these stocks must be locked for six months before they can enter the secondary market.
I am not sure what you are saying XUNing. From that top chart, it appears that GBTC stocks can be bought on the secondary market at about 10% below NAV, and I am not even sure if GBTC is selling actual shares at this time... Maybe you can explain the point that you were attempting to make a wee bit better?