barrons.com
Investors in Grayscale Bitcoin Trust the world’s largest Bitcoin fund, want its parent company to erase a large discrepancy between the fund’s price and its underlying assets. For now, those investors will have to wait.
In an interview with Barron’s, Grayscale Investments CEO Michael Sonnenshein dismissed calls for his firm to immediately buy back shares of GBTC (ticker: GBTC), or take other steps to close the gap, as unworkable. He also reiterated the firm’s contention that winning regulatory approval to convert the trust into an exchange-traded fund is the most viable path to unlocking billions of dollars in shareholder value.