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For years, the flagship Grayscale Bitcoin Trust (GBTC) has been the world’s largest publicly traded bitcoin fund. Grayscale charged shareholders 2% every year to manage up to $30 billion worth of bitcoin. Now a spot bitcoin ETF that charges 1.5%, GBTC is widely considered to be the most expensive of its kind — competing against 10 others boasting expense ratios as low as 0.2%. However, MSTR’s complicated mix of debt service, share dilution, stock-based derivatives compensation, and preferred voting rights may deem it to be far more expensive than any bitcoin ETF. Chart via Yahoo Finance. MicroStrategy is a de facto bitcoin holding company. At press time, it holds $7.69 billion in BTC, which makes up 98% of the firm’s $7.83 billion market cap. Meanwhile, the actual enterprise software business of MicroStrategy earned a trivial $90 million in net income from continuing operations over the last year. From a cursory glance, MSTR might seem to be the least expensive bitcoi...

On Tuesday, June 20, the share price of Grayscale Bitcoin Trust (NASDAQ: GBTC ) shot up by a staggering 11.40% ending the trading at $16.85. The surge in the GBTC share price came as it recorded the highest trading volume of $10.24 million, since November 22 last year. advertisement Citing data from CryptoQuant, popular crypto journalist Colin Wu reported: “ GBTC has rallied more than 25% since BlackRock filed for a Bitcoin ETF like GBTC application. CryptoQuant shows that the current GBTC premium is -34.19%, the second highest point this year”. The recent activity surge in GBTC comes as some of the top financial players have been applying for a spot-Bitcoin ETF. As we know, Grayscale has been one of the forerunners in the race of bringing a spot Bitcoin ETF to the market. BlackRock submitted their application at the same time that Grayscale Investments is having a legal dispute with the SEC to change the Grayscale Bitcoin Trust into an ET...