Crytpo arbitrage positioning.

Given the current bear market within the Crypto space, especially focusing within BTC, this has opened up a superb Arbitrage opportunity to gain further exposure to BTC with a different risk perspective.

Greyscale Bitcoin Trust has spent most of 2021 trading at hefty premiums to BTC SPOT. Often seeing 20-30% & sometimes higher premiums as much as 40%. Making GBTC quite unviable as an investment.

Due to the large current price collapse in BTC, we’re finally seeing a serious price discount appear in GBTC. And this has not gone unnoticed by the Hedge Funds & other such Institutional buyers. Most of the recent buying within BTC market is now taking place through GBTC, with 10-20% price discounts, & NOT in the SPOT market. Once BTC price recovers, this discount will yet again fade away.

We have seized on this opportunity buying into GBTC with initial positions at $26.00. GBTC was rejected on YVWAP STD lower deviation $30.00 and has since fallen off. With SUPP at the recent Low of $24 next likely test for this market. We will continue to build positions in this Arbitrage trade as long as we see a price discount to the spot market.