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What's Going on With G B T C?
For a long time, there's no Bitcoin ETF in the United States. G B T C was like one of the regulated vehicles that one could get exposure to Bitcoin. But now we have this huge discrepancy between the value of grayscale Bitcoin and where the shares are actually trading. All of these entities that were in some way trying to arb the spread or trading Bitcoin versusG B T C, etc,. they've now lost a lot of money.