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plusalpha789, Regarding COINXBT and COINXBE, I'm not an expert on international stock trading, but can I assume that you're looking at any sort of exchange rate fluctuations between USD and the krona or euro as being unimportant relative to the volatility of the bitcoin price itself? Also, the following shows the commissions. ( https://www.fidelity.com/stock-trading/faqs-international) Swedish stock trades placed online are 180 SEK (about $22), and assisted through a rep (assuming for the IRA) are 480 SEK (about $59). For Euro trades, it looks to be 19 Euros online, and 50 euros when assisted through a rep. On top of this, they mention that if you choose U.S. dollars as the settlement currency, a foreign currency exchange fee will be charged, which are between 20 and 100 basis points. They state: "If you plan on trading regularly in a specific market, you may want to consider exchanging a certain amount of currency to avoid currency exchange fees on each trade. For example, let’s say you plan on trading primarily in Hong Kong. Rather than settle your trades in U.S. dollars and pay a foreign currency exchange fee on each transaction, you could do a single, larger currency exchange transaction of your U.S. dollars into Hong Kong dollars.* This would allow you to settle each trade in the local currency, Hong Kong dollars, which may allow you to potentially reduce your overall trading costs. *Note: A currency exchange fee would still apply to the initial currency exchange from U.S. dollars to Hong Kong dollars." Another thing to keep in mind is that now that GBTC has done its stock split, this allows for much more granularity on GBTC as compared to COINXBT, not withstanding GBTC's own issues. I'm interested to know whether there are any important tax implications when trading international stocks such as these, as well. They do state the following, which I assume would apply to any future forked dividends (have they even paid out any forked dividends yet for BCH or BTG?): "Countries generally impose withholding taxes on dividends paid to foreigners. Many countries—including the United States—offer a dollar-for-dollar tax credit for the amount withheld to avoid double taxation of these funds." Having to trade on the hours of these international markets is also going to be an important consideration for some people. Yes, the transaction fees for COINXBT and COINETH are higher than for US-traded stocks, which might be an issue if a transaction if VERY small. F/X risk (which cuts both ways, as imo there is a 50% chance it will work in the investor's favor) to me pales in comparison to the volatility inherent in the cryptos. Investors concerned about risk should consider the risk that buying GBTC at a 75% premium to NAV might later involve selling at a lower, perhaps much lower, premium. In my experience every dollar paid in foreign dividend witholding tax gets recouped 100% with a tax credit from Form 1116. |
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A good strategy is buying GBTC whenever premium is less than 15% and selling whenever it goes over 85% premium. Rinse and repeat.
That sounds wise. Premium ended today at 43%, so we still have some more premium compression to go before I'd consider buying/covering. I do think that the range going forward might be lower than the 15-85% you suggest, because very few U.S. investors had previously known that they could trade the zero-premium European alternatives, and more and more will know over time. |
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Finally, I am now on the hook for major taxes due to IB's blocking/removal and forced liquidation of the COINXBT product.
I mentioned a few posts ago that IB's stated reason makes 0 sense. If they gave you no warning, you might want to take them to arbitration over it. Arguably they should have given you the opportunity to find a broker like Fidelity to transfer the position to. |
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I think most people use their ira/roth ira on fidelity to buy GBTC. I don't think they can buy COINXBT on fidelity if it's an IRA? At least I cannot see it and I only have Stocks/ETF available. So the big part of GBTC are IRA's.
You can do it, and it has been done. Quoting from post 2118: Details at Fidelity are as follows. Taxable accounts can execute online, the Fidelity-specific symbols are BITCOIN_XBT:SE (trading in Sweden, in krona) and BITCOIN_XBTE:SE (trading in Germany, in euro). For an IRA, the trade can only be placed with a human, not online, by calling their international desk at 800-544-2976, so the commission is higher than for online trades in a taxable account. To trade the ETNs online at Fidelity, make sure your account is enabled for international trading, then hover over "Accounts & Trade" until you get the dropdown > select "Trade" > click the "International" tab > then enter one of the Fidelity-specific symbols such as "BITCOIN_XBT:SE". |
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In that premium, GBTC still has payments for Bitcoin Gold and Bitcoin Segwit2x baked into the price (so that could be another say $600 a BTC depending on when GBTC sold them).
Not so. The Bitcoin Gold dividend had a record date of Dec 4.The Segwit2x dividend had a record date of Jan. 8. So any buyer of GBTC after Jan. 8 gets neither of those payouts, including those who bought at a 54% premium at the close yesterday, or a 74% premium the day before. COINXBT *still* has not paid for Bitcoin Cash and they sold at a pathetically low rate anyway (around $300) compared to GBTC's better ~$1300 or so.
OK but was that skill or luck? Is it repeatable with future forks? If COINXBT sells its forked crypto consistently faster than GBTC, then if a fork happens when we are in a generally down market for crypto, that speed will help not hurt you with COINXBT. Hell, even in the scant amount of retirement funds that offer "brokerage" trading on individual stocks (which probably takes weeks/months for an employee to get approval through their idiotic HR/benefits department), I bet they don't allow exposure to foreign currency-denominated investments like COINXBT. There is a fellow on SeekingAlpha who recently was able to buy COINXBT in an IRA at Fidelity: https://seekingalpha.com/article/4137459-bitcoin-altcoins-missing-wave?ifp=0&v=1516625100 (toward bottom of the comments section, post by Jim Craddock 25 Jan 2018, 01:50 PM). Honestly, the premium will remain. Close your short and go long BTC, fine, but don't try to short GBTC  The premium came down 20 percentage points yesterday. Some part of that could be due to my continuing efforts to spread the word about the zero-premium alternatives. As the word spreads, I think the premium will come down further. And I don't find it TOO risky because I am long a basket of crypto; in fact since I am NET long (long basket exceeds short GBTC), the greater risk to me is that Ethereum et al continue to go down. |
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Who is consistently presenting this false narrative, though?
Some of the pumpers appearing on CNBC, such as Tom Lee and Chamath Palihapitiya. Some people on SeekingAlpha. And some of the idiots on StockTwits too. It doesn't have to be the "only available pure-play way of gaining exposure to bitcoin" for it to still be the one that is *most* available to investors.
*most* investors it is true don't use Fidelity, but *all* of those investors could move their accounts to Fido, or open new ones there. Saving a 54% premium by buying COINXBT (or COINETH) instead of GXBT makes such a move worthwhile, imo. Even if someone is a very small investor, and owned 1 pre-split / 91 post-split shares, worth $1418 at yesterday's close, there is a potential $495 savings...which for a *small* investor, potentially is very significant. And if someone has 910 or 9100 or 91,000 shares... |
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[update: as of the close Tue. Feb. 6, GBTC closed at 12.31 per share, a 62.4% premium to its NAV of 7.58 per share] [the below is an updated rewrite of post #2090] GBTC’s absurdly high premium to NAV (74% as of the close Jan. 30) has been due to the false narrative that GBTC is the only available pure-play way of gaining exposure to bitcoin in an exchange-traded vehicle. In fact, there are alternatives in Europe that trade at a near-zero premium to NAV, and these are available to U.S. investors, including IRAs, depending on the broker used. GBTC is an ETN that has generally traded at a large premium to its underlying value of (post-split) 0.001008927 bitcoin (source https://grayscale.co/bitcoin-investment-trust/#overview). As of the close Jan. 30, it traded for $17.51 per share (post the 91:1 split), compared to its underlying NAV of $10.07 per share (calculated by taking the 4 PM ET bitcoin price from bitstamp times 0.001008927 bitcoin per share). This represents a GBTC premium to underlying value of 73.9%. Buying some is somewhat like paying $174 for a $100 bill. Historically, the premium has been due to the ficticious story that GBTC is the only available pure-play way of gaining exposure to bitcoin in an exchange-traded vehicle. In fact, an alternative bitcoin ETN in Europe trades at a near-zero premium to NAV. Just google “COINXBT”. Some details, including ISIN etc., for the ETN trading in Sweden can be found here: http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE109538. And details for the sister ETN trading in Germany can be found here: http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE113749. NAVs can be found here: https://xbtprovider.com/. Generally both trade close to NAV (e.g., zero premium), in contrast to the 74% premium for GBTC. I have accounts at three brokerages. Fidelity allows trading of both the European bitcoin ETNs. Schwab does not. Interactive Brokers does not (although it used to). I even placed a small order, which executed, at Fidelity (not more because I am already long a basket of crypto and don’t need more and would prefer futures over an ETN anyway). Here is a link to a screenshot of a that completed trade: https://imgur.com/a/fkK9bI also confirmed with Fidelity that both the Sweden-traded and the sister Stuttgart-traded ETNs can be held in IRAs. This last point is key. After bitcoin futures became available in the U.S. last month, GBTC "premium apologists" claimed that the GBTC premium was justified, as GBTC was the only way of getting pure bitcoin exposure into an IRA. That is not true. Details at Fidelity are as follows. Taxable accounts can execute online, the Fidelity-specific symbols are BITCOIN_XBT:SE (trading in Sweden, in krona) and BITCOIN_XBTE:SE (trading in Germany, in euro). For an IRA, the trade can only be placed with a human, not online, by calling their international desk at 800-544-2976, so the commission is higher than for online trades in a taxable account. To trade the ETNs online at Fidelity, make sure your account is enabled for international trading, then hover over "Accounts & Trade" until you get the dropdown > select "Trade" > click the "International" tab > then enter one of the Fidelity-specific symbols such as "BITCOIN_XBT:SE". I only checked with Fidelity, Schwab, and IB, so I don't know which other brokers, besides Fidelity, might offer trading in these ETNs. Perhaps if readers find others, the information could be added in comments below. There are also sister exchange-traded Ethereum vehicles, similarly available to U.S. investors (including IRAs) via Fidelity (and possibly other brokers). You can google “Ethereum XBT” or “COINETH”. Details can be found at http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144580 (trading in Sweden in krona) and http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144581 (trading in Stuttgart in euro). https://xbtprovider.com/ provides NAVs. Like the European bitcoin ETNs, these Ethereum ETNs trade very close to NAV, instead of the substantial premium that GBTC trades at in the U.S. vs. its underlying value in bitcoin. The availability of these to U.S. investors is another reason that GBTC's current 74% premium to NAV might come down. At Fidelity, taxable accounts can execute online, the Fidelity symbols are ETHEREUM_XBT:SE (trading in Sweden in krona) and ETHEREUM_XBTE:SE (trading in Stuttgart in euro). To trade the ETNs online at Fidelity, make sure your account is enabled for international trading, then hover over "Accounts & Trade" until you get the dropdown > select "Trade" > click the "International" tab > then enter one of the Fidelity-specific symbols such as " ETHEREUM_XBT:SE". If you need to trade in an IRA, call their international desk at 800-544-2976. In summary, given that GBTC sells for a premium to its underlying bitcoin value of 74%, or about $7.44 per share, every 100 shares of GBTC sold at that premium and replaced with COINXBT can save the investor roughly $744 before commissions/fees. If you own, or have been considering, GBTC as a long, check with your broker…if yours doesn’t allow trading of COINXBT/ COINETH instead of GBTC, it might be worthwhile finding one who does…as long as the high GBTC premium persists, that is. Consider either transferring your account to Fidelity (or some other broker who allows the trades) or open and maintain an additional account to whatever you have now; in my opinion, saving 74% is worth it. Transferring an account in its entirety is barely more work than opening a new account. We think the premium is likely to begin compressing once this information is more broadly disseminated. If you are a super-bull on bitcoin and believe it will eventually go to $100,000 or $1,000,000, it is a pretty sure bet that by the time it gets there, the SEC’s issues with true bitcoin ETFs will have been satisfied, and we will have true bitcoin ETFs on the market…which will have driven the GBTC premium to zero. If instead of GBTC you buy a zero-premium alternative now, you will have 1.74 times the underlying ownership for the same dollar cost…and 1.74 times the profit down the road. DISCLOSURE: I/we are short shares of GBTC, and long a basket of cryptocurrencies. (The hedge isn’t purely bitcoin because we believe Ethereum and certain other cryptocurrencies will outperform bitcoin.) |
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It will be interesting to see how GBTC responds the next time BTC has big run up.
Sentiment can cut both ways. What if the next 30% or whatever major move in bitcoin is to the downside, not the upside? Then sentiment might push the 74% premium down. I understand it has averaged 46%, and my bet (short GBTC, long a basket of crypto) is that as word spreads that there are near-zero-premium alternatives available, that premium will go well below 46%. |
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In any event, who is to say that Fidelity won't have the same policy soon regarding the Bitcoin ETNs? I mean this is the reason Interactive Brokers gave for blocking US investors from the Bitcoin ETNs:
"As a background, these securities have not been and will not be registered under the United States Securities Act of 1933 and, therefore, may not be held in an account of a resident of the United States."
I don't know what IB's real reason might be, but the reason they gave you is absolutely B.S. I have in the past owned at IB securities that trade ONLY in Norway and ONLY in London and ONLY in Paris. They were not registered under the 1933 Act but I could buy and hold them. If there are any restrictions on a U.S. person owning a foreign security, the restrictions have to come from the originating country/stock exchange. |
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Everyone knows other funds will come out and the premium will go away, but until then there is only one game in town.
GBTC IS NOT the only game in town, it is just the most expensive by far. That was the whole point of this post: https://bitcointalk.org/index.php?topic=337486.msg28835640#msg28835640 As I write this, GBTC's premium to underlying bitcoin value is 74%, thanks to the split enabling a new cohort of buyers in the last couple days. As word spreads that there are near-zero-premium alternatives available, that premium is going to come down. |
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Does anyone know how many bitcoin GBTC holds? Can they prove that they have that amount? Is it in line with the fund's market cap?
Market cap is 1.63x the underlying bitcoin, that's why the Sweden and Stuttgart ETNs I posted about are a much better value, near zero premium instead of 63%. As for them "proving" they have that amount, I don't know and it is a good question! I do know that their holdings are not insured, so futures imo are safer (as well as being basically premium-free). |
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IB screwed me over and I tried getting into Fidelity to buy the same asset before and they said IRAs *could not* use foreign currency (even if just swapping to a SEK-denominated asset) and they could not trade COINXBT.
There is a fellow on SeekingAlpha who recently was able to do the trade in an IRA at Fidelity: https://seekingalpha.com/article/4137459-bitcoin-altcoins-missing-wave?ifp=0&v=1516625100 (toward bottom, posts by Jim Craddock this afternoon) |
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Can you provide more detail on this? I asked Fidelity multiple times if they offered COINXBT and COINETH as recently as last month and they said that they did not. Also, please note above where I said Interactive Brokers delisted this stock and also forced liquidation on the position today. Who is to say that Fidelity won't do the same thing?
I'm fairly certain that the GBTC premium will remain until another US based alternative emerges for non-accredited investors. I held COINXBT for years and I will have to pay so much in short-term gains taxes as a result of Interactive Broker's honestly shitty handling of this situation that it would have honestly been better if I had just paid the 30% premium to GBTC on a recent large purchase I made early 2017 (hence the short-term gain tax).
As long as your Fido account is enabled for international trading, just go to trade / international tab and then enter as a symbol BITCOIN_XBT:SE or BITCOIN_XBTE:SE (SEK and euro, respectively, and the symbols are probably specific to Fidelity). For anyone else not at Fidelity, if your broker can't handle these ETNs, it might be worth transferring your account. Each GBTC share you replace with one of the zero-premium European-traded ETNs saves you something like $635, based on the current high GBTC premium. Here is a link to a small test trade I did at Fidelity the other day: https://stocktwits.com/plusalpha/message/110305506 |
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More info on exchange-traded Ethereum vehicle - trades in Europe but available to U.S. investors using Fidelity and possibly other brokers: You can google “Ethereum XBT” or “COINETH”. Details can be found at http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144580 (trading in Sweden in krona) and http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144581 (trading in Stuttgart in euro) https://xbtprovider.com/ provides NAVs. The ETNs trade very close to NAV, instead of the substantial premium that GBTC trades at in the U.S. vs. its underlying value in bitcoin. The availability of these to U.S. investors is another reason that GBTC's current 63% premium to NAV might come down. At Fidelity, taxable accounts can execute online, the Fidelity symbols are ETHEREUM_XBT:SE (trading in Sweden in krona) and ETHEREUM_XBTE:SE (trading in Stuttgart in euro). For an IRA, the trade can only be placed with a human, not online, by calling their international desk at 800-544-2976, so the commission is higher than for online trades in a taxable account. ------------------------------ ADDED Jan. 30:To trade any of these at Fidelity, make sure your account is enabled for international trading, then hover over "Accounts & Trade" until you get the dropdown > select "Trade" > "International" tab > then enter one of the Fidelity-specific symbols such as "ETHEREUM_XBT:SE". If you have any trouble or need to do the trade in an IRA, which requires a human, call their international desk is at 800-544-2976.
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For anyone interested in an arb play (long bitcoin futures or COINXBT, short GBTC), as of yesterday GBTC was available to borrow at Schwab at a 6.5% annual rate. It was not available at Fidelity or IB.
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It isn't a false narrative if it is true. For most people, including myself it IS the only exchange-traded exposure for bitcoin you can purchase.... It doesn't matter that some small subset of people can buy euro-traded bitcoin assets... that is nonsense.
At least you disclosed that you are short GBTC.
GBTC will trade at a premium until alternatives show up in my trade account, why? because I have money in my account that i won't take out because of tax advantages and I want BTC exposure, so I have one choice, pretty simple. NOT fiction.
A subset of people may currently have accounts eligible to trade the European ETNs. But those who don't have such accounts can move their accounts to Fidelity or other brokerages that allow such trading. It is easier than most people realize to transfer an entire account from one brokerage to another. That includes IRA accounts. Saving $600 or so per GBTC share might make such a move worthwhile, for many people. |
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_______________________________________________________________________________ ____An updated version of the below writeup can be found here: https://bitcointalk.org/index.php?topic=337486.msg29315403#msg29315403_______________________________________________________________________________ ____I’m a newbie to the forum and have read little of this thread, but strongly suggest that anyone long GBTC consider selling, and soon if at all. GBTC’s absurd premium to NAV has been due to the false narrative that GBTC is the only available pure-play way of gaining exposure to bitcoin in an exchange-traded vehicle. In fact, there are alternatives in Europe that trade at a near-zero premium to NAV, and these are available to U.S. investors, depending on the broker used. Below is a writeup that I’ve done for SeekingAlpha on a non-exclusive basis, that seems to be in their queue awaiting review/editing. I’m assuming it is taking awhile in my case because I’m a new author there. Bitcoin Investment Trust – the 62% premium to NAV is based on a fallacy- GBTC currently trades at a 62% premium to underlying value based on the fallacy that it is the only exchange-traded bitcoin product available
Alternative ETNs trade at a near-zero premium to NAV in Sweden and Stuttgart, and are available to U.S. investors (depending on the broker used)
Availability depends on the broker – Fidelity allows trading of both securities, Schwab and Interactive Brokers do not currently (although IB did at one time). Have not checked others.
At Fidelity at least, the ETNs are eligible to be placed in IRA accounts
GBTC’s 62% premium to underlying bitcoin value will collapse as this information becomes disseminated
GBTC is an ETN that has generally traded at a large premium to its underlying value of 0.09181239 bitcoin (more info at https://grayscale.co/bitcoin-investment-trust/#overview). As of today’s close (Tue. Jan. 23), it traded for 1652.65 per share (pre the 91:1 split taking effect Friday), compared to its underlying NAV of 1021.81 per share (calculated by taking the 4 PM ET bitcoin price from bitstamp times 0.09181239 bitcoin per share). This represents a premium to underlying value of about 62%. Buying some is somewhat like paying $162 for a $100 bill. Historically, the premium has been due to the false narrative that GBTC is the only available pure-play way of gaining exposure to bitcoin in an exchange-traded vehicle. In fact, there are alternatives in Europe that trade at a near-zero premium to NAV. Just google “COINXBT”. Some details, including ISIN etc., for the ETN trading in Sweden can be found here: http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE109538. And details for the sister ETN trading in Germany can be found here: http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE113749. NAVs can be found here: https://xbtprovider.com/. Generally both trade close to NAV (e.g., zero premium), in contrast to the 62% premium for GBTC. I have accounts at three brokerages. Fidelity allows trading of both the European ETNs. Schwab does not. Interactive Brokers does not (although it used to). I even placed a small order, which executed, at Fidelity (not more because I am already long a basket of crypto and don’t need more and would prefer futures over an ETN anyway). I also confirmed with Fidelity that both the Sweden-traded and the sister Stuttgart-traded ETNs can be held in IRAs. This last point is key. After bitcoin futures became available in the U.S. last month, GBTC "premium apologists" claimed that the GBTC premium was justified, as GBTC was the only way of getting pure bitcoin exposure into an IRA. That is not true. Details at Fidelity are as follows. Taxable accounts can execute online, the symbols are BITCOIN_XBT:SE (trading in Sweden, in krona) and BITCOIN_XBTE:SE (trading in Germany, in euro). For an IRA, the trade can only be placed with a human, not online, by calling their international desk at 800-544-2976, so the commission is higher than for online trades in a taxable account. I only checked with Fidelity, Schwab, and IB, so I don't know which other brokers, besides Fidelity, might offer trading in these ETNs. Perhaps if readers find others, the information could be added in comments below. Given that GBTC sells for a premium of 62%, or about $631 per share, every share of GBTC sold at that premium and replaced with COINXBT can save the investor roughly $631 before commissions/fees. If you own, or have been considering, GBTC as a long, check with your broker…if yours doesn’t allow trading of COINXBT instead of GBTC, it might be worthwhile finding one who does…as long as the high GBTC premium persists, that is. We think the premium is likely to begin compressing quickly once this information is disseminated. ---------------------------------- ADDED Jan. 30:(1) To trade any of these at Fidelity, make sure your account is enabled for international trading, then hover over "Accounts & Trade" until you get the dropdown > select "Trade" > "International" tab > then enter one of the Fidelity-specific symbols such as "BITCOIN_XBT:SE". If you have any trouble or need to do the trade in an IRA, which requires a human, call their international desk is at 800-544-2976. (2) There are also sister exchange-traded Ethereum vehicles, similarly available to U.S. investors (including IRAs) via Fidelity (and possibly other brokers)...further details are in post 2096, some of which is repeated here: You can google “Ethereum XBT” or “COINETH”. Details can be found at http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144580 (trading in Sweden in krona) and http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144581 (trading in Stuttgart in euro) https://xbtprovider.com/ provides NAVs. The ETNs trade very close to NAV, instead of the substantial premium that GBTC trades at in the U.S. vs. its underlying value in bitcoin. The availability of these to U.S. investors is another reason that GBTC's current 70% premium (as of 1/29) to NAV might come down. At Fidelity, taxable accounts can execute online, the Fidelity symbols are ETHEREUM_XBT:SE (trading in Sweden in krona) and ETHEREUM_XBTE:SE (trading in Stuttgart in euro). For an IRA, the trade can only be placed with a human, not online, by calling their international desk at 800-544-2976, so the commission is higher than for online trades in a taxable account. ---------------------------------- ADDED Jan. 30, part 2:GBTC premium can be calculated as follows (post the Jan. 29 91:1 stock split): 0.00100733 bitcoin per share GBTC (per the sponsor: https://grayscale.co/bitcoin-investment-trust/times bitcoin price from https://www.bitstamp.net/market/tradeview/ equals underlying net asset value. Compare to GBTC price. At 4pm close Jan. 30, NAV, GBTC price 17.51, a 74% premium to the NAV of 10.07 (0.00100733 bitcoin/share x 9979 bitcoin price) ---------------------------------- DISCLOSURE: I/we are short shares of GBTC, and long a basket of cryptocurrencies. (The hedge isn’t purely bitcoin because we believe Ethereum and certain other cryptocurrencies will outperform bitcoin.)
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Even when COINXBT was available, the premium still persisted on GBTC. Any suggestions for an alternative from anyone?
Futures on CBOE or CME, but I assume you are already aware of those. |
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These brokers are getting goofy with what they allow and don't allow. For example, Interactive Brokers for the longest time did not allow GBTC trading, but did allow COINXBT (XBTProvider ETN) trading. Now they don't allow COINXBT to trade, but do allow GBTC and bitcoin futures trading. Hilarious!  And people wonder why GBTC trades at a premium! A ton of money has lost access to COINXBT which traded close to the BTC spot. These brokers are exacerbating the problem. Anyone know of a U.S. broker that does allow trading of COINXBT? Thanks in advance for any help. |
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