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The Grayscale Bitcoin Trust (GBTC) is a closed ended fund traded on the OTC markets which invests solely in Bitcoin. However, over the past year it's price has diverged substantially from its net asset value and it currently trades a 49% discount. So what is GBTC and why does it trade at a discount?
0:00 - 1:58 Intro
1:59 - 3:09 Trends.co
3:10 - 4:09 Creation of GBTC
4:10 - 5:35 ETF mechanics
5:36 - 6:58 GBTC premium
6:59 - 8:20 GBTC discount
8:21 - 10:50 Genesis lending
10:51 Financial contagion
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