Grayscale’s Bitcoin Fund Reaches Record Discount After SEC Snub !!!

[tokyohd]

Shares of Grayscale Bitcoin Trust (GBTC) started trading at a massive discount of roughly 35%, according to data provided by YCharts.

This came after the U.S. Securities and Exchange rejected the company’s application to convert the trust into an exchange-traded fund despite months of extreme lobbying. 

The formidable securities regulator raised concerns over market manipulation, echoing its previous rejections.     

Grayscale followed through on its threat to sue the SEC if its ETF filing gets shot down by the regulator. It took the federal agency to court immediately after the unfavorable verdict.

More Info:
https://u.today/grayscales-bitcoin-fund-reaches-record-discount-after-sec-snub

[ImThour]

The problem is what if they are the leading indicator in the case of Bitcoin's bottom? That means we may go down more than 30% from here and that will be the bottom.
No one knows for sure, I am also just speculating it however It can be real though and make sense once executed.

[franky1]

the real snub is....
they say they give a discount to buy. but then you cant touch them for...............

and while you cant touch them they are charging you a daily fee(reducing your holdings daily). aka decreasing discount and increasing risk of loss the longer the delays go on

next snub is instead of just applying again or even making 2000 applications to really rile the SEC up and force their hand. they are going to go into appeals court,, not this month, not this season, but in 9-12 months. and so customers cant do anything with their holdings for that time because they want to blame the sec for not allowing customers to sell/exchange/dispose/get refund of the shares..(funny that, they open hand to take money but dont open hand to give it back as fast)

and the story goes if they lose the appeal they will just stall again by more legal bluff to keep customers on hold..
all while customers are seeing their holdings reduce daily..

here is the thing.. greyscale can legally just give people a refund. .. so its not really the SEC fault customers are left in waiting/stuck..

but for all new people thinking of investing at a discount. what you are investing at 35% les now. cant be touched for a year, and after a year of delay/stall.. that discount when IF you able to release wont seem so much

..
greyscale should go on a full multi direction attack if they actually wanted a chance.
reapply. create 100 sister companies all with slight variations of an application and apply apply apply

get a meeting with the SEC and sit down and actually work through the details the SEC is denying. every single word. every detail. and actually get to the crux of the holdup.

but no.. by going to appeals court they cant just sit and have meetings or communicate like other businesses because now they are on opposite sides of a legal battle (facepalm)