GBTC delivered better returns than Bitcoin ETFs last week
Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) outperformed the newly-launched exchange-traded funds (ETFs) last week, data shows.
Figures shared by Grayscale executives among others confirm that GBTC quietly delivered better investor returns since Oct. 19.
While talk continues to revolve around Bitcoin futures ETFs and their market impact, industry stalwart Grayscale is biting back.
Amid claims that the newly-launched funds are sucking custom away from GBTC, the firm's chiefs were quick to note that the latter was in fact a better bet since launch day.
Over the seven days to Monday, GBTC returned around 8.8%, while the pioneering Bitcoin futures ETF, ProShares' Bitcoin Strategy ETF (BITO), fell 0.5%.
This was thanks in part
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