Shares of the GBTC fund Grayscale Investments company since February rose by more than 300%

Shares of the GBTC cryptocurrency fund, the investment product of Grayscale Investments, rose more than 300% against the low, which was fixed on February 6 of the current year.

During the same time, the object of the investment trust – Bitcoin – has grown from $ 3,366 to $ 10,900, or by 223%. The accelerated growth of GBTC in relation to BTC is due to overpayment, which investors are forced to pay for investments in unregulated assets.

Forbes
analyzed the profitability of GBTC and other instruments, including gold, oil, the US dollar and the S & P 500 index. As it turned out, the product of Grayscale Investments showed the highest rate of profit, despite the recent drop of 15%.

“GBTC, which is based on Bitcoin, grew by 341%. Over the same period, oil grew by 12.8%, S & P 500 by 8.5%, and gold – by 7.7%, ”Forbes writes.

Analysts point out that the GBTC growth trend started at the end of last year: then trust shares traded below $ 4, then rose slightly, but interest waned in January and then the price reached its minimum in February of this year.

“In technical analysis, this figure is called” Double bottom. ” It signals that sellers did not have enough strength to push quotes even lower and buyers start to dominate the market, ”Forbes writes, noting that on the same day trading volumes jumped 12.5%. This was a signal of the beginning of a new phase of growth.

A few days ago, trading was launched on Ethereum-based Grayscale investment trusts, which at the time allowed an overpayment of up to 2000% relative to the ETH spot price.