And the $42s are cleared off the books with another 259 shares. $200 on the ask, lmfao.
If someone really bought at those prices, everyone buying into GBTC - no matter at which time - would have made a profit. I mean, it's clear some people will just want to grab the first shares traded on the ETF, but buying at those prices is insane. They're either trying to confuse people about the value of a single share (1/10 of a BTC) or try to make a quick buck in a crazy emerging market.
It is not insane... it is a speculation. What if those are actually the cheapest shares? Many bought btc at 800$+

Of course it's speculation

I think it's likely the price of shares and coins will approach each other. But with $140 of ground to cover, that's a nice ride.
Yeah, that's what I'm thinking, as well! I don't think the GBTC price will have to blindly approach the BTC spot price on Bitcoin exchanges. For all we know, Bitcoin ETFs could - in a few years - be the primary way of price discovery for Bitcoin! It remains to be seen how much "force" the ETF can exert on the regular BTC spot price on Finex, etc.