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Investors claim that there is no way to withdraw money from the Grayscale Bitcoin Trust trust fund

June 13, 2020

Qiao Wang – investor, analyst and product manager for the crypto market data company Messari – raised an important point Criticism of the way the Grayscale Bitcoin Trust (GBTC) is founded.

In one Tweet As of June 11, Wang quotes the official Grayscale website, stating that “The Grayscale Bitcoin Trust is not currently implementing a redemption program and may stop making creations from time to time.” Proposed that The lack of a bailout mechanism can result in GBTC trading being discounted from the net asset valueor NAV of the fund.

“You only donate your money to grayscale.”

Wang explained that if a publicly traded fundor ETF, If an arbitrator is trading at a discount to the Fund’s underlying assets, he can buy the contract on a stock exchange and save it for the assets that support it. Said::

“Without the opportunity to redeem, you only donate your money [el fundador de Grayscale] Barry [Silbert]. “

Grayscale grows rapidly

Investors claim that there is no way to withdraw money from the Grayscale Bitcoin Trust trust fundInvestors claim that there is no way to withdraw money from the Grayscale Bitcoin Trust trust fund

The latest news makes that clear Grayscale’s cryptocurrency reserves are growing amazingly fast. As Cointelegraph reported in late May, Grayscale bought Bitcoin (BTC) 1.5 times faster than new units were mined since the Bitcoin block reward was halved on May 11th.

In addition, Ray Sharif-Askary, Director of Investor Relations at Grayscale, recently announced that the company has also made aggressive purchases of Ether (ETH).

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