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Osprey Bitcoin Trust (OBTC)

Other OTC - Other OTC Delayed Price. Currency in USD
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4.9850+0.0725 (+1.48%)
At close: 03:57PM EDT
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  • T
    Tim
    Anyone still holding that bought at $50?
  • B
    Brian
    On Feb 17th I placed a trade from my IRA for OBTC. This is a bitcoin trust and was highlight on cnbc on Feb 17th as a safer and cheaper alternative to GBTC or buying bitcoin directly. Since Wed Feb 17th, (two days) bitcoin and GBTC have gone up over 10%. My investment in OBTC has dropped 64% from $54 to $24 per share. This is a scam rather than investment in bitcoin.
    https://www.cnbc.com/video/2021/02/17/osprey-funds-ceo-on-how-to-keep-crypto-coins-safe.html
  • M
    Mark
    As of this writing, OBTC share price is $46.20 - up 71.11% today. Bitcoin price is $49,575.

    The NAV per share is $16.96, meaning the premium is $29.27 a share.

    The people that bought in this morning are happy. The people that are buying in now will be very sad soon as the premium evaporates like it did last week when I lost $152k after buying at $51 a share.
  • J
    Jonathan
    I wouldn’t buy this OBTC till it gets closer to its NAV of around $17.50 or so
  • B
    Ben
    Anyone out there?
  • B
    BoneAlligator
    Let me help some here. Each share is 0.00034123 bitcoin.
    EXAMPLE: NOW 0.00034123 x $58000 = $19.79 this is your NAV
    $22.54 (current share price) - $19.79 = $2.75 premium to NAV
    $2.75/$22.54 = 12.2% premium to NAV WHICH MEANS DON'T BUY NOW!
    Bullish
  • F
    Frank
    What's wrong with this Bitcoin is up to $62,000 and this thing hasn't gone up. It's like it's price at the same price when Bitcoin was $45,000
  • W
    William ₿
    Each share of OBTC ONLY represents a meager 0.00034148 per bitcoin. While GBTC represents a LARGER 0.00094768 for each bitcoin. And to top it off, GBTC is $6.00 per share cheaper. The best choice, even with higher fees--which are sure to come down--is clearly GRAYSCALE.
    Bullish
  • C
    Chris
    This thing has no correlation to GBTC which is supposed to be the same thing. It doesn't even correlate to Bitcoin.
  • R
    Ron
    Anyone considering this look at Osprey's website for its NAV to market price before making a decision....please.

    https://ospreyfunds.io/products/
    Products | OBTC | Osprey Bitcoin Trust | Osprey Funds
    ospreyfunds.io
  • S
    StatProf
    Anyone know what is the premium on this? I am thinking of selling my GBTC and buying this due to low management fee.
  • G
    Gasmanchad
    Do NOT buy OBTC until it trades at NAV or even a small discount. This is only better than GBTC once they both trading at NAV, then the 0.5 vs 2% management fee makes a difference. But when GBTC trading 6% below NAV and this is 50% above NAV, it is a guaranteed loss to by this, even if BTC goes up!
  • S
    S
    NAV is 16.35 and trading around $50....GBTC premium is @20%
  • S
    Shalom
    I'm not clear on why this trades close to the price of gbtc when the underlying amount of Bitcoin is about 1/3rd of the amount underlying gbtc. am I missing something here or is everyone else missing something here that is buying this?
  • b
    bpowers
    There are several differences between Grayscale and Osprey but as one who plans to stay long in Bitcoin the Osprey fund stands heads and shoulders above Grayscale; mostly because it only has a 0.49% annual management fee vs Grayscale's 2%... For that extra 1.5% (annual) the Grayscale investors get the benefit of instant liquidity because their volume is much higher; mostly because they do a boat load of expensive advertising on CNBC and possibly other stations. Of course, their net asset value drops by an extra 1.5% interest yearly (which isn't great if you're holding long). Today I saw an Osprey ad for the first time on CNBC. It was short and sweet (inexpensive) but it did advertise Osprey's crypto funds. It wasn't targeted at this one specifically; regardless any advertising is better than none and it was nice to see Osprey using a little of their management fees to boost up awareness and likely the volume in their funds. Personally I'm not too worried about Osprey's current daily volume, but it will make a difference someday if/when I decide to sell. Hopefully by then the whole world will know about Osprey's crypto funds.
  • G
    Gasmanchad
    Why are people still buying this at a premium when GBTC at a significant discount? Makes no sense at all. If people want to burn money, send it to me. I'll send you the NAV amount of BTC in GBTC shares and keep the 14% spread between the two.
  • M
    Michael
    I think a lot of people are buying this who are not aware the premium is as high as it is. They are going to loose some opportunity to participate in the appreciation of bit coin as this thing corrects closer to the NAV. Let the buyer beware. I sold some GBTC to rotate into OBTC last week; when I realized the premium on this I bailed out.
    Bullish
  • B
    Ben
    Have you learned yet? You're not trading crypto, your trading premium with each other. This is worth $16/share. Go to GBCT for something that's trading at Net-Asset-Value
  • B
    Ben
    Glad I got out at $60 with a nice profit. The premium is too high. You're not trading crypto, your trading premium with each other.
  • A
    AorA
    i dont understand if gbtc provides better value, why is obtc up 50cents and gbtc down $2
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