​​While we expect Bitcoin ETFs, some companies have launched similar products — ETPs. Exchange-traded products are share…

​​While we expect Bitcoin ETFs, some companies have launched similar products — ETPs. Exchange-traded products are shares backed by Bitcoin. The most famous ones are GBTC and ABTC. However, their prices often differ from BTC’s price in collateral.

GBTC trading on the OTC market consistently costs 10% more than Bitcoin. However, now we see signs of the spread narrowing.

ABTC is traded on SIX Swiss Exchange. It does not go far from collateral price, but since YTD, the instrument is periodically traded with a 5% discount.