Synthetic Bitcoin Report – May 28

This report presents the daily trading premium to NAV and Bitcoin equivalent volume for any exchange listed investment securities that track Bitcoin. The report will analyse GBTC (the OTC Markets listing of the Bitcoin Investment Trust), and XBT ( an ETN listed on the Nasdaq OMX Nordic).

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Yesterday was a slow day for Bitcoin volumes the world over. GBTC volume crashed to 40 XBT. It is hard to keep anyone excited about any Bitcoin product when the price isn’t moving.

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XBT volume declined to 431 XBT. The ETN closed the trading day at fair value.