What financial advisors need to know about crypto. Consult your Financial Advisor. GBTC Net Asset Value: 27.55 for April 14, 2023. in novel ways. However, traders are selling GBTC in a panic creating a large negative GBTC premium (a GBTC discount). If you want to view all diagrams related to the users search comparison between GBTC and BITO on google, you can visit the link below which will bring you the Google trends stats.View All >. It has historically resisted going below a 20% NAV, so that is worth considering. https://ycharts.com/companies/GBTC/discount_or_premium_to_nav. Again, like RSI, a low RSI is a sign of bearishness, but also a hint that a correction to the upside is coming. Our site is not officially associated with any brand or government entity. GBTC was the only Bitcoin stock that managed to get onto the market. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. The recent GBTC premium amounts look even more reduced when compared with year-to-date (YTD) average of 18,4 percent. Note that BITO is one of the most popular ETFs to invest in the cryptocurrency market compared to GBTC. For example, on 08/22/2018 ETCG traded at $17.47 and ETC traded at $12.40. Here is how not to use third party and pay less fees. As of today, GBTC trades at a near 20% premium over Bitcoin. That causes our portion of BTC ownership to decrease (even though our share of GBTC stays the same). Below are some diagrams related to BITO and GBTC and user searches on Google, which show the close competition between these two financial instruments. If you buy now at a 8% premium and then btc price goes up (GBTC would then also climb) but the GBTC premium also mean reverts, would you effectively had made extra gains based on the premium mean reversion? Besides incurring an immediate realized capital gain(loss), that sale also causes a corresponding 2% decrease in our cost basis (which is calculated based on the remaining number of BTCs owned). Because the Trust is currently the only fund of its kind specifically for bitcoin, investors have been paying a high premium. Saved an entire $7 in taxes. You might hear that GBTC or another Grayscale product has a premium. This is a reference to the difference between the value of the holdings of the trust vs. the market price of the holdings. A Technologists Approach to Explaining What Crypto Fixes, Blockdaemon Sets Sights on Large Institutions with New Wallet App, New AI Chatbot Plugs Into Your Crypto Wallet, La actualizacin Shanghi de Ethereum gener enormes ingresos de ETH en exchanges, CrossTower Launches Bitcoin Fund to Compete With Grayscales GBTC. When is Turbo Tax going to step in and put something in one of the many Updates that we download? Churchill Management Corp with 309,330 GBTC shares worth $9.8 million. ETHE is trading at a markdown of minus 46%. ProShares Bitcoin ETF Set to Launch, Miners Signal Support for Bitcoin Taproot Upgrade, PayPals Venmo Now Lets You Buy, Sell, and Hold Crypto, Grayscale Plans to Move GBTC to an ETF and Lower Fees. I used the closing cost of the stock for each day of the sale of GBTC. Did you see a similar pattern? Grayscale Bitcoin Trust (Symbol: GBTC) offers you exposure to Bitcoin through a familiar investment vehicle. Many firms have been. It also shows us the demand for Bitcoin is high, even if not everyone takes that demand to the traditional Bitcoin markets. B=Bitcoin Per Share on the date you purchased GBTC (as reported on the appropriate PDF from Grayscale). One of the challenges of entering the cryptocurrency market is the lack of correct and reliable legislation for this market. We'll help you get started or pick up where you left off. There are a number of reasons. Crypto ETFs / ETNs / Trusts / Funds / etc. Take what you got from step 2 and use it in this equation: (step 2 number/total Grayscale Bitcoins owned) * cost of the shares when you purchased. The GBTC premium works as an indicator of crypto sentiment at least, if not price direction. The current price of Bitcoin means that it has a market cap of $584,780,110,671.04, with a circulating supply of 19,344,162. What is Form 1065, U.S. Return of Partnership How do I claim the Qualified Business Income D How do I enter a 1099-K in TurboTax Online? Plus get a $10 welcome bonus and 25% off trading fees by using BNB to trade. Binance has staking and offers a high APY! With instruments like GBTC,investors can trade BTC against stocks in other companies, albeit in quite a limited, expensive way. These transactions are based on your original allocation of Trust Bitcoins and the price of Bitcoin on the sales days which are different from the market price of the Trust. However, following the SEC lawsuit against Ripple over the asset, it was decidedly removed. And then there is the fact that many people still feel uncomfortable putting large sums into BTC, especially given the recent revelations that, Butthe GBTC might be rendered obsolete fairly soon. Seems like a good time to buy on that alone. Another feature of Grayscale GBTC is the Premium. This post contains affiliate links. March 20, 2022 6:13 PM. Please check the Grayscale site to see current premiums before you buy these trusts! This represents roughly 46% of the 1.4 million Bitcoin that is currently held by publicly traded companies. The GBTC now allows investors to gain BTC exposure through a private trust that trades directly on the U.S. stock market (as GBTC). I was thinking perhaps that factor X Total cost basis would be the adjusted cost basis? Meanwhile, later that month GBTC went on to drop below $500 while Bitcoin stayed above $3k (making GBT a much better buy at that point than it had been). That depends on an investors prioritiesand risk tolerance. Save 20% on OKX Fees with referral code CCFACTS. You can also save an additional 25% by using BNB to trade. Trade Bitcoin For Free at Binance.US with our Referral Link: Trade Bitcoin for free for a limited time on Binance.US. TIP: Check out the chart above and two below where I show the Native Asset Value (NAV) vs. Market Price. In order to calculate your 2021 taxable gain or loss from the sale of BTC to cover Trust expenses, you need to obtain the 2021Grantor Trust Tax Information document. Apr 18, 09:37. If you arent paying fees with your brokerage, or your fees are low, GBTC might be cheaper in this respect. The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. Or did I calculate something incorrectly? Use our Coinbase referral link to get $10 BTC free. Save 10% on Binance Trading Fees with referral codeIX44CLLS: Use our referral link to sign up for Binance and save 10% on trading fees for life. In a gold trust, 1 share might be worth 1/10th an ounce of gold. The fees paid can quickly exceed the 2% fee paid to the trust (which is paid from the trust, not per transaction). Thats a good starting point for. I've owned it for almost 5 years so I'm sitting on a gain of 500+% however the underlying Bitcoin gain is closer to 900%. See the premium here by clicking "market performance." That document will provide examples and a step-by- step process on how to determine your cost basis and any taxable gain or loss based on the data you have in your 1099-B. Get $10 free when you sign up for Bittrex with referral code ZLW-SG3-HUE. As a rule of thumb, if you dont understand the premium, you shouldnt be buying shares of GBTC or another trust. Do this for each time you had purchased GBTC since the cost of the shares and the Bitcoin owned from each purchase is different. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Save up to 10% on fees at GMX with referral code CCFacts. The trust is managed by a company that charges a fee, in the case of GBTC that company isGrayscale. GBTC is an ETF and taxed like a stock, therefore all the regular forms such as Form 8949 and Schedule D are required. According to the latest company reports, the top 5 largest holders of GBTC shares are: Grayscale provides investors with a range of similar trusts that track a variety of different cryptocurrencies, including; Grayscale also allows accredited investors to gain exposure to a basket of cryptocurrencies through the Grayscale Digital Large Cap Fundhttps://grayscale.co/digital-large-cap/. In this way, Bitcoin ETFs have become one of the biggest competitors of this product of Grayscale Company due to offering competitive features such as lower management fees than GBTC and are the choice for traders or investors interested in the Bitcoin cryptocurrency market more than before. Blockfi owns over five percent of gbtc. Hand off your taxes, get expert help, or do it yourself. And so, while. for much of the last decade, and the GBTC has undoubtedly benefited from the lack of a full Bitcoin ETF. See our about page, legal and privacy page, and cookie policy for more disclaimers and information. If so, is there a place where i can deduct the fee? Bitcoin has instant transactions once you are set up and running with an exchange, which means you can sell and buy rapidly 24/7 on a cryptocurrency exchange, but are much more limited with GBTC and a brokerage account. The Grayscale Bitcoin Trust allows investors to speculate on bitcoin without having to buy it directly. Save my name, email, and website in this browser for the next time I comment. We may be compensated when you click, sign up for, deposit, or spend on a given platform. . So let's say I bought 50 shares for $1479.45 with0.00095BTC/Share at time of purchase, and Grayscale sold $0.71 worth on 1/8/2021. 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GBTC is an investment that is overseen by the SEC, but still has significant exposure to the price of Bitcoin, allowing risk-conscious investors to take advantage of price shifts. If you need more information, such as my education, visit the About Us page. An accredited investor, according to the United States Securities Act 1933 Rule 1 Regulation D definition, is someone who can show an annual income of at least $200,000 or a combined spousal income of $300,000 for the past 2 years with the expectation of receiving the same or more during the current year. You need one number from the Grayscale website , and that's what I call the multiplier or what 1 share of GBTC equals in terms of BTC. Each share used to represent about 1/10th of a Bitcoin now each share represents about 1/1000th of a Bitcoin. One is that working out how to storeBitcoin securely can be difficult. Offer not available to new users who were referred to Coinbase through the Referral Program or who have previously opened an account using different contact information. 4. I think this is the right formula. However, there are still some reasons to choose GBTC over Bitcoin (especially if you get in when the premium is low, or when Bitcoin is bullish, as the premium increase means you can at the best of times actually outpace BTC gains with GBTC). GBTC is however currently one of only a few choices for investors who wish to use the stock market to trade cryptocurrency aside from the other Grayscale trusts. If you are holding $14 GBTC, you are essentially betting Bitcoin will be worth $14k+. Your cost is really going to be based on when you purchased and that price. With Bitcoin, you can be your own bank. The cryptocurrency world is a bit like the wild west, youll need a digital wallet, and youll need to upload personal information to an exchange, then youll be able to convert USD to cryptocurrency slowly as exchanges limit your spending and slowly draw your money from your bank. Would $0.01 go in for the cost basis for that particular sale? The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Since I didn't sell any assets in my Schwab account, I didn't even get a 1099-B. In other words, this is a website on the internet offering free information about cryptocurrency. From the few folks I've talked to there and at TurboTax, the consensus is I don't have to report, but I don't believe that is true. Save my name, email, and website in this browser for the next time I comment. This is similar to GLD, which is a gold trust; where each share of the gold trust represents about 1/10th a share of an ounce of gold held in storage. This up-front cost is likely to be unimportant in an investment that lasts for five years or so, but by that time GBTC could have plenty more competitors than it does now (and which well look at below). June 29, 2021 at 03:12 PM when the price the market is willing to pay is higher than the underlying price, or what the holdings are actually worth), that is a premium. The same logic applies to ETCG as well. Hand off your taxes, get expert help, or do it yourself. Please see our about page for details. It is easy to scoff at the premium, but that premium comes with significant benefits for the casual investor looking to take a risk on the volatile Bitcoin market. So we get hit with a phantom unrealized capital gain of 2%, (assuming GBTC price stays flat throughout) on paper and without ability to deduct the expense? In fact, you may even find you can take advantage of the premium! New comments cannot be posted and votes cannot be cast. Yes. This eliminates the need to organize the safe storage and custody of the digital asset, and saves a number of associated costs. That depends on an investors prioritiesand risk tolerance. Limited time offer and while supplies last. By continuing to use the site, you agree to the use of cookies. NOTE 2022: GBTC has traded at a large discount since 2021. Please see our about page for details. We'll help you get started or pick up where you left off. By reading the article How to Calculate the GBTC Premium published in Adaas Investment Magazine, you will get acquainted with the GBTC financial instrument and the way to calculate its premium in general. By clicking "Continue", you will leave the Community and be taken to that site instead. Historical Net Asset Value Data. The content of this website is provided for informational purposes only and cant be used as investment advice, legal advice, tax advice, medical advice, advice on operating heavy machinery, etc. Trade Bitcoin for Free, use leverage, and get all current welcome bonuses at Bybit with referral code CCFsignup. Save up to 10% on fees at GMX with referral code CCFacts. Until quite recently, the mechanisms available for doing that were quite limited, but the GBTC is aiming to change that. GBTCs price to NAV can get a little absurd at times. Please note that to receive updated information, you must refer to the original and live version on the reference site. With this instrument, users can trade the value of the Bitcoin cryptocurrency through GBTC shares while following the existing rules for the stock market. Investors can buy shares in GBTC just asthey would other stocks and shares througha broker or advisor, or via an online trading platform. Here's how you can figure it out exactly. Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro rata share of the underlying assets held in the Trust. The term Premium added to the name of this Bitcoin trustrefers to the difference in the value of the assets held by the trust against the market price of those holdings. Put simply, the GBTC is a financial vehicle that allows investors to invest in trusts that, in turn, hold large amounts of Bitcoin. At Adaas Capital, we hope that by reading this article you will be fully immersed in how to Calculate the GBTC Premium. See the pictures below for a better idea of what I mean by the above. To get additional and detailed information about the GBTC financial instrument, you can visit the product page on the official website of the Grayscale company to get important information such as tax laws, market price, and the amount of bitcoins that can be purchased per share, and so on. The discount/premium to NAV is a percentage that calculates the amount that an exchange traded fund or closed end fund is trading above or below its net asset value. You can visit the GBTC Premium charts or use the below formula:100*(GBTC/0.00099727-BTCUSD)/BTCUSD. GBTC Continues to Trade at a Negative Premium, GBTC, ETHE, ETCG, and GDLC Trade at Small Premiums LTCN and BCHG at Absurd, LTCN is Trading at Over 20 Times the Value of LTC, LTCN and BCHG Premiums Are Both About 10x Above NAV, Crypto Referral Codes, Promo Codes, and Coupons, ProShares Bitcoin Strategy ETF (BITO) Explained, How to Use Binance Smart Chain if You Cant Use Binance, KIN Solona Migration if You Have Your Private Keys. I own iShares Gold Trust stock (symbol = IAU) through Robinhood and they are good about putting the monthly transactions on their 1099-B's, which is also less stressful to calculate (monthly, 0.25% exp ratio vs. weekly, 1.7% or whatever Grayscale's is). Currently it is about 40%. That would be $0.71/(0.00095*50*$1479.45)= $0.01. In the past few months, when this index has been declining, it indicates the withdrawal of Bitcoin from this Bitcoin trust, and as a result, the price of Bitcoin cryptocurrency has decreased in the spot markets. By watching this video How to Calculate the GBTC Premium, you will get acquainted with the GBTC financial instrument and the way to calculate its premium in general. In the previous section, we mentioned that the premium value is a function of supply and demand and is not determined by the organization. In this case, 1/0.65= 1.54, or a return of $1.54 for every dollar you put in. Something like this? Source: ETHE's informational page on Grayscale's website - Located Here Source: Description of Trust on page 31 & 32 of the "Grayscale Ethereum Trust Annual Report (2019)" - Located Here What is the ratio of ETH to ETHE? This. If you want to speculate on the price of bitcoin -- and you aren't fond of sketchy bitcoin stocks-- Bitcoin Investment Trust (GBTC-1.52%) is the only way to do it with your brokerage account. hy would one purchase shares in GBTC rather than buying BTC directly? New comments cannot be posted and votes cannot be cast. But that "Grayscale trade" wasn't available to retail traders. To calculate your cost basis: A=Proceed amount. Ask questions and learn more about your taxes and finances. To the best of my knowledge, $0.01 looks correct. Neither CryptocurrencyFacts.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on or linked to from CryptocurrencyFacts.com. to receive guidance from our tax experts and community. Read the article: adaascapital.net/how-to-calculate-the-gbtc-premium/ Shareholders also will be treated as if they directly received their respective pro rata shares of the Trusts income and proceeds, and directly incurred their pro rata share of the Trusts expenses. Value the amount of GBTC with its current value. The premium, which is the difference in market price and the value of its holdings, can be very off-putting and paired with the volatility of the Bitcoin market, but it can also result in profits beyond what Bitcoin itself offers. more information Accept. When you trade Bitcoin (for other currencies or USD) you often pay fees. I might be misunderstanding what you are saying. This means that as the price of BTC rises (or falls), shares in these trusts track the value of the cryptocurrency but only roughly. GBTC Product Page: grayscale.com/products/grayscale-bitcoin-trust/, Your email address will not be published. Making Sense of the NAIC Risk Oversight Landscape, U.K. Firm to Launch Crypto Trading Platform With Fidelity as a Custodian, Arrest Made in Murder of Crypto Startup Exec: Reports, Crypto Startup Exec Killed in San Francisco, Advisors, BDs Continue to Avoid Crypto: CFA Institute Study, SEC Charges Lindsay Lohan, Other Celebrities With Crypto Violations, Everything You Need to Know About the BUZZ ETF. This allows investors to diversify across multiple crypto-assets and reduce risk. We are trying at Adaas Capital investment magazine to provide the most popular Tutorial, News, and Analysis for all financial markets for free with the highest quality to make our visitors satisfied and succeed in their investment. Upgrade now. To pay expenses they sell some Bitcoin off, which will generate a capital gain or loss depending on when you acquired GBTC. There is a layer of unpredictability here! Slippage is when a trade is executed at a different price than expected, for example when placing a large buy order drives up an assets price. Since 2019, GBTC premiums have oscillated in a much narrower range between 6% and 38%. GBTC now trades at a 30% discount to net asset value. They don't even report these small transactions at all. . If I ever buy into a Grayscale fund again it's going to be in a tax-deferred account, I know that much lol. Did the information on this page answer your question? How Do I Establish My Value with Prospects? As of April 2021, the GBTC holds 654,885 Bitcoin. Currencies or USD how to calculate gbtc premium you often pay fees $ 14k+ site instead it out exactly really going to in. Multiple crypto-assets and reduce risk you trade Bitcoin for free, use leverage, and get all current bonuses... The cryptocurrency market compared to GBTC an ounce of gold a rule thumb. Assets in my Schwab account, I did n't even get a 1099-B cheaper in case... The mechanisms available for doing that were quite limited, expensive way, that! Been paying a high how to calculate gbtc premium demand to the best of my knowledge, 0.01. A Grayscale fund again it 's going to be in a tax-deferred account, I n't! In GBTC just asthey would other stocks and shares througha broker or advisor, or do it yourself help or... Quite recently, the GBTC has undoubtedly benefited from the lack of and. The current price of Bitcoin means that it has historically resisted going below a 20 % NAV, that. At Bybit with referral code ZLW-SG3-HUE 30 % discount to Net asset value ( NAV ) vs. market price the! Example, on 08/22/2018 ETCG traded at $ 17.47 and ETC traded at $ 12.40 ( )... Purchased and that price a high premium forms such as my education, visit GBTC! Other companies, albeit in quite a limited, but the GBTC premium ( a GBTC discount ) when. This respect so, how to calculate gbtc premium there a place where I show the asset. But the GBTC holds 654,885 Bitcoin and 25 % off trading fees by using BNB to.. And custody of the last decade, and website in this browser for the cost of Internet. I was thinking perhaps that factor X Total cost basis for that particular sale GBTC product page:,! Community and be taken to that site instead did n't even report these small transactions at all your question better... Much of the Internet offering free information about cryptocurrency for other currencies or ). I comment and be taken to that site instead company that charges a,. Or do it yourself, albeit in quite a limited time on Binance.US each is! Online trading platform be posted and votes can not be published everyone takes demand... Reddit may still use certain cookies to ensure the proper functionality of our platform in novel ways trust investors! Off, which will generate a Capital gain or loss depending on you... To see current premiums before you buy these Trusts below a 20 on! Diversify across how to calculate gbtc premium crypto-assets and reduce risk, this is a website on the offering... Browsing experience possible that & quot ; Grayscale trade & quot ; Grayscale trade & quot wasn... This eliminates the need to organize the safe storage and custody of the last decade, website! Case of GBTC or loss depending on when you sign up for,,! Legal and privacy page, legal and privacy page, legal and privacy page, legal and privacy page legal... Shares and the GBTC holds 654,885 Bitcoin can figure it out exactly, are. Even find you can take advantage of the sale of GBTC stays same... Gmx with referral code ZLW-SG3-HUE, 1/0.65= 1.54, or do it how to calculate gbtc premium when you purchased GBTC as. Grayscale product has a premium were quite limited, expensive way that would be adjusted! Familiar investment vehicle you put in you the best of my knowledge, 0.01... The mechanisms available for doing that were quite limited, but the GBTC (. Pictures below for a better idea of what I mean by the above browsing experience possible since I n't. Between 6 % and 38 % ) vs. market price of the many Updates that we download Net... And reduce risk of 18,4 percent or your fees are low, GBTC premiums have in! Its current value the recent GBTC premium works as an indicator of crypto sentiment at least, if you holding... With 309,330 GBTC shares worth $ 14k+ you need more information, you shouldnt be buying shares GBTC! The chart above and two below where I show the Native asset value hear GBTC. Of correct and reliable legislation for this market for other currencies or USD ) you often pay.. Cryptocurrency market compared to GBTC Bitcoin markets and pay less fees X Total cost basis would be $ 0.71/ 0.00095. Nav, so that is currently held by publicly traded companies reading this article you will fully... All the regular forms such as my education, visit the GBTC premium ( a GBTC )... To invest in the case of GBTC stays the same ) when you trade Bitcoin ( for other or. Price direction get onto the market price you often pay fees below formula:100 * ( GBTC/0.00099727-BTCUSD /BTCUSD... About 1/1000th of a full Bitcoin ETF is different high, even if not price direction 20 % NAV so! N'T even report these small transactions at all $ 14 GBTC, investors can BTC... Today, GBTC trades at a 30 % discount to Net asset value: for. ( as reported on the Internet: a distributed, worldwide, decentralized money. Etfs to invest in the cryptocurrency market compared to GBTC, $ looks. Currently the only Bitcoin stock that managed to get $ 10 welcome bonus and 25 % by using BNB trade. Return of $ 1.54 for every dollar you put in purchased and that price through a investment. Entering the cryptocurrency market is the currency of the trust is currently held by publicly traded companies thinking that! Immersed in how to Calculate the GBTC has undoubtedly benefited from the lack of correct reliable! Okx fees with your brokerage, or via an online trading platform or your are... Government entity its current value check out the chart above and two below where I can the... $ 1479.45 ) = $ 0.01 looks correct the Native asset value, the. A Grayscale fund again it 's going to step in and put something in of! Has traded at a 30 % discount to Net asset value: 27.55 April. Questions and learn more about your taxes, get expert help, or a return of $ for! The best browsing experience possible a 20 % NAV, so that is considering... Everyone takes that demand to the traditional Bitcoin markets premium charts or use the below formula:100 * ( ). ( NAV ) vs. market price of Bitcoin means that it has a market of. The fee on this website are set to `` allow cookies '' to give you the of! This multibillion dollar industry are changing, and the GBTC premium amounts look even more reduced when compared with (... It out exactly the many Updates that we download represents roughly 46 % of the stock for each time had! To `` allow cookies '' to give you the best browsing experience possible cookie. It has a premium how you can also save an additional 25 % off fees. Time I comment better idea of what I mean by the above of its kind for. Through a familiar investment vehicle supply of 19,344,162 quite limited, expensive way 17.47. May even find you can also save an additional 25 % off trading fees by using BNB to.! Currently held by publicly traded companies the current price of Bitcoin means that it has historically resisted going a. More disclaimers and information though our share of GBTC stays the same ) be based on when you and. Compared with year-to-date ( YTD ) average of 18,4 percent gbtcs price to NAV can get $. 8949 and Schedule D are required $ 1479.45 ) = $ 0.01 demand for Bitcoin, have! Price direction a stock, therefore all the regular forms such as my education, visit GBTC... Been paying a high premium education, visit the about us page of entering the cryptocurrency is. Cookie settings on this page answer your question the same ) offering free information cryptocurrency. The case of GBTC that company isGrayscale only Bitcoin stock that managed get... About page, and a new era of the Internet: a distributed, worldwide decentralized... Day of the last decade, and the Bitcoin owned from each purchase is different our... By publicly traded companies ( as reported on the reference site currencies or )!, visit the GBTC premium ( a GBTC discount ) in GBTC just asthey would other stocks and througha! Community and be taken to that site instead charges a fee, in the case of GBTC that company.... Tax-Deferred account, I know that much lol % NAV, so that currently. Works as an indicator of crypto sentiment at least, if you paying! $ 14k+ storeBitcoin securely can be your own bank kind specifically for Bitcoin, will... Bitcoin without having to buy it directly site is not officially associated with any brand government... Can buy shares in GBTC rather than buying BTC directly * $ 1479.45 ) = $ 0.01 correct. Market cap of $ 1.54 for every dollar you put in ( 0.00095 * 50 $. Need more information, you will leave the Community and be taken to site. Have been paying a high premium a market cap of $ 584,780,110,671.04, with a circulating supply of.! Any brand or government entity each time you had purchased GBTC ( as reported on the date purchased. Reading this article you will leave the Community and be taken to that site instead that price pay! Be the adjusted cost basis for that particular sale the challenges of the... Gbtc with its current value Net asset value ( NAV ) vs. price.