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June 14, 2024
PI Global Investments

Spot-Bitcoin ETF (BTC) To Trade at Premium, GTS’s Reggie Browne Says

A spot-Bitcoin exchange-traded fund would trade at a meaningful premium to its net asset value, according to Reggie Browne.

The head of ETF trading at market-maker GTS told Bloomberg TV on Monday that a fund, if approved, could see an 8% premium to the value of underlying holdings. Compare that with BITO, an ETF which holds futures of the cryptocurrency and is formally known as the ProShares Bitcoin Strategy ETF, with an average premium over the past year of 0.02%.

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