From December 2017, the shares of the investment Fund Bitcoin Investment Trust Grayscale (GBTC) Barry Silbert fell by 80%. During the same period, the price of bitcoin dropped by about 66%. About it writes Bloomberg.
Some investors attributed the downward trend GBTC not only from market stagnation, but with the high charges of the Fund, the Bitcoin Investment charges 2% of the invested amount. At the same time, according to the investment company Institute, in 2017 the average size of commissions mutual funds was 0.59%.
“These funds insane fee, and the current price of bitcoin adds even more problems,” said Naeem Aslam, chief analyst of the consulting company TF Global Markets (UK).
GBTC representatives refused to comment on the situation. Earlier they said that in the first six months of 2018 Bitcoin Investment clients invested in a cryptocurrency company products $248,39 million according to the publication, at the moment, the amount under management of the GBTC assets exceeding $1.5 billion.
We will remind, in September Grayscale Investments has formally announced the launch of a Fund based solely on cryptocurrency Horizen (ZEN).
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