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11.11 - 13:03
MicroStrategy's and Grayscale Bitcoin Trust's Shares Now Compete with ETFs
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cryptonews.comThe returns for shareholders in two popular proxies for the bitcoin (BTC) price, namely MicroStrategy(MSTR) and the Grayscale Bitcoin Trust (GBTC), have fallen well behind those of spot bitcoin holders this year, with some speculating that the two investment vehicles are no longer needed now that bitcoin ETFs exist.
Year-to-date, MicroStrategy’s share is up by about 89%, while shares of the Grayscale Bitcoin Trust are up by 53%, data from Morningstar showed.
At the same time, since the beginning of 2021, the spot price of bitcoin on Coinbase has risen by 120% since the beginning of 2021, from USD 28,870 on January 1 to 63,641 as of press time (13:02 UTC) on Friday.
Institutional investors, who often can’t or don’t want to hold bitcoin
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