Post by
Shadow1973 on Feb 18, 2021 7:14pm
EBIT bitcoin ETF makes it debut tomorrow
And behind door #2...EBIT to be offered from Evolve as of tomorrow on TSE. I will be very interested to plug this side by side with BTCC and track the daily moves. I was surprised how much BTCC moved in early trading today -mainly because of share trade volume, not from underlying bitcoin price. That is a little concerning.
Comment by
Mat1791 on Feb 18, 2021 8:24pm
I agree with you Shadow. I think the first day volume was a little overwhelming for the APs. This got away from them a bit today, hoping to see it settle down in the future. Also, I had thought the $10 per unit set on Februray 11 also meant it was striked against February 11th BitCoin. If so, we are currently at a discount??
Comment by
1971vegan on Feb 18, 2021 9:43pm
Anyone know what the difference is between the BTCC and EBIT ETF ?
Comment by
Shadow1973 on Feb 18, 2021 9:58pm
They kept calculating the daily change from the $10 price, so maybe what was stated on Feb 11 took effect as of the first trading day. Otherwise we should have been 17% higher at the open based on the BTC price last week...
Comment by
Moogul on Feb 18, 2021 10:46pm
They now show a 9.94 NAV on their website. I think you gotta give this etf a few days to get everything sorted. First of its kind with crazy volume on day one. Most bought around 10.30ish today. All the closed end funds are trading at a discount now in Canada. It certainly ruffled some feathers.
Comment by
pentad2 on Feb 18, 2021 11:16pm
This stock should trade within a percent of the nav. Today people were eager to get in and ran the price up.
Comment by
Mat1791 on Feb 19, 2021 6:53am
Yep. Your right. I had thought because they were showing Feb 11 - $10 per unit that it would be matched to the price of the coin on Feb 11. A little misleading by their part... Good news, it stayed pretty close to NAV given the crazy volume Bad news, I entered at mid 10s thinking it was at a discount LOL!
Comment by
Shadow1973 on Feb 19, 2021 8:28am
I hear you. I was in at 10.50 and cheesed at seeing the 10.09 at the close. But big picture is that by fall 2021 I won't notice a few cents when we are all in a 2x to 5x trade. I bought QBTC last July at $10US and it is now over $50, so things move fast in crypto land.