Thanks for the report. As Edward pointed out. If you can provide a high resolution for the funding rate and fair value metric that will be great. I don't think anyone can see the letters which doesn't mean much if no one can read them. Thanks so much. cheers.
Thanks for the great update! About the Grayscale unlockings, why would there be incentive to sell unlocked shares? Am I mistaken in that the premium is only realized once the shares are unlocked and sold? The trust is buying back its own shares at a discount which could help slowly recover the premium. Only when this premium has came back, the holder of unlocked shares would be interested in selling. Otherwise they will have realized a loss relative to BTC.
The "fair value metric" looks interesting. I find it hard to read, the same goes for the funding rate chart. Perhaps it is possible to draw the token names over the bars themselves, or center them under their respective bars?
That's what I thought was going on. Unfortunately without checking it before. According to bybit, there have been no unlocks as of yet, and no increase in BTC holdings.
Hey Lilly. Great stuff, as always! Could you share with us a high=quality “fair value metric" graphic? One cant really read the names of the tokens. MUCH appreciated.
Thanks so much for the update. Very insightful read. Also, noticed the CB outflows today and first thing that came to mind was Grayscale buying again. That paired with price climbing again towards the 702 fib retracement (after being rejected the first time) and very favourable BTC astrology for the days and weeks ahead I have a bullish bias.
Great update! Thanks for making the time for this even with everything else going on. Quick question: I'm struggling to see how the Greyscale unlocking can be seen as bullish if the NAV is at such a discount? Even if the fund were open wouldn't the NAV discount mean a hugely decreased incentive to buy BTC to pump back into GBTC fund for any players who will be unlocked?
Sorry who is Pablo? Thanks
Love it. Great update. Thanks and have a great weekend. Hope Benjamin is feeling better soon.
Love your update thanks!
Thanks for the report. As Edward pointed out. If you can provide a high resolution for the funding rate and fair value metric that will be great. I don't think anyone can see the letters which doesn't mean much if no one can read them. Thanks so much. cheers.
See if this works: https://twitter.com/jarvis_labs_llc/status/1390723760500592641?s=21
Yes. Much better. I can read the letters now. Thanks!
Thanks for the great update! About the Grayscale unlockings, why would there be incentive to sell unlocked shares? Am I mistaken in that the premium is only realized once the shares are unlocked and sold? The trust is buying back its own shares at a discount which could help slowly recover the premium. Only when this premium has came back, the holder of unlocked shares would be interested in selling. Otherwise they will have realized a loss relative to BTC.
The "fair value metric" looks interesting. I find it hard to read, the same goes for the funding rate chart. Perhaps it is possible to draw the token names over the bars themselves, or center them under their respective bars?
Thanks for the great content as always!
Give this a try: https://twitter.com/jarvis_labs_llc/status/1390723760500592641?s=21
I don't think Grayscale is buying back its own shares. They are buying spot BTC with the proceeds.
Why did you say Grayscale is buying spot BTC? They only buy spot BTC when people deposit USD to buy their shares.
That's what I thought was going on. Unfortunately without checking it before. According to bybit, there have been no unlocks as of yet, and no increase in BTC holdings.
https://www.bybt.com/Grayscale#Unlock
Hey Lilly. Great stuff, as always! Could you share with us a high=quality “fair value metric" graphic? One cant really read the names of the tokens. MUCH appreciated.
Does this work: https://twitter.com/jarvis_labs_llc/status/1390723760500592641?s=21
Yes, same here. Would be awesome.
Try this out: https://twitter.com/jarvis_labs_llc/status/1390723760500592641?s=21
I wish I found your newsletter sooner, would have taken profits before the plunge, next time I'll be paying attention...
Merci!
Thank you as always
Thanks so much for the update. Very insightful read. Also, noticed the CB outflows today and first thing that came to mind was Grayscale buying again. That paired with price climbing again towards the 702 fib retracement (after being rejected the first time) and very favourable BTC astrology for the days and weeks ahead I have a bullish bias.
Great update! Thanks for making the time for this even with everything else going on. Quick question: I'm struggling to see how the Greyscale unlocking can be seen as bullish if the NAV is at such a discount? Even if the fund were open wouldn't the NAV discount mean a hugely decreased incentive to buy BTC to pump back into GBTC fund for any players who will be unlocked?