The collapse of FTX, a cryptocurrency exchange has left a major dent in the global digital asset market. Several crypto exchanges and lending platforms have felt the impact of this debacle. However, this wildfire has now reached the world’s largest cryptocurrency fund.
Grayscale Bitcoin trust trading in negative premium
According to the data, Grayscale Bitcoin Trust Fund (GBTC)’s negative premium expanded to a whopping 42.7%. While the negative premium of Ethereum Fund dropped to 40.12%. Both trust funds have hit a record low.
Reports suggest that GBTC which owns 3.5% of the world’s Bitcoin, value has dropped as investors are hesitant to invest in the market to the recent FTX crash. However, Grayscale has said that it was not affected by the collapse of Genesis and its subsidiary of DCG.
The decline in premium hints that trust investors have suffered an 83% loss since the Bitcoin price touched it’s All time-high (ATH) in November. Bitcoin prices have dropped by a massive 65% on
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