Investors in the Grayscale Bitcoin Trust (GBTC) face more losses as the popular investment product hit its record discount of 26.53%, per data from YCharts. GBTC has long been an investment tool of choice for many institutional investors, offering exposure to Bitcoin without the need to purchase the actual underlying asset. It comes with several drawbacks though, including an annual management fee of 2% and a six-month lockup period. A hefty discount to net asset value (NAV) not only means that GBTC's existing holders are running at a loss but may also be seen as a bearish indicator of wider institutional sentiment ... (full story)