GTS executive: Spot Bitcoin ETF trading premium will be as high as 8%
On January 9th, Reggie Browne, the ETF trading director of market maker GTS, stated that the trading price of spot Bitcoin ETFs will have a significant premium over their net asset value. Browne said that if a fund is approved, its trading price may have an 8% premium over the underlying asset value. In contrast, the average premium of holding Bitcoin futures BITO over the past year was 0.02%. "The width of the spread is not a concern, I think the problem will be the premium over the net asset value," Browne said, "This will be a crazy number."
Browne also said that if approved, he expects investors to inject at least $2 billion into spot Bitcoin ETF trading in the first 30 days. For the whole year, he expects the size of these funds to reach $10 billion to $20 billion. "Although we are celebrating today, I think all the details will be announced tomorrow morning," he said.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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