macrocephalopod Retweeted Eric Balchunas
This is not that surprising — $GBTC started with a built-in 20% upside (minus 2% fee drag) and $BITO was getting front run to hell, the CME premium got pushed up from 5% to nearly 20% annualized in the weeks before launch. Long $BITO is just asking to underperform.https://twitter.com/EricBalchunas/status/1452725408303095817 …
macrocephalopod added,
Eric BalchunasVerified account @EricBalchunas
Fair point, I'll talk about it. $GBTC is indeed beating $BITO by 8 percentage points in past week. Can't deny the nice run, it's just not reliable as the prem/disc is big unknown variable = why $GBTC still lagging spot buy 130% past 12mo (which is why some enticed to buy now) https://twitter.com/DilksJay/status/1452723452331319298 … pic.twitter.com/bTirov1Vna
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2:23 PM - 25 Oct 2021
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