BlockFi's Bitcoin Trust Takes Aim at GBTC

Prince couldn’t say whether the shares would trade at a premium to the spot price of bitcoin as Grayscale’s trust does, but James Seyffart, ETF research analyst at Bloomberg Intelligence, said there is little reason to think it wouldn’t, because typically there are not enough shares in funds to meet the demand. BlockFi could pull in a significant number of retail users that are already using the firm’s other bank-like products, Seyffart added. 

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