Bitcoin Fund Units Class A T.QBTC

How does the fund go down when is bitcoin up?

[Cashrules]

Maybe this has been answered and apologies for repeating if this question has been asked a million times before. I hold the fund and see a spark in bitcoin today up 2% lets say from yesterday but my fund performance is -2%? I was told when speaking to the company that buying this fund was like buying bitcoin because I was thinking of just buying my self and storing when this fund came out I was interested and bought it instead for simplicity. but if the fund holds bitcoin and bitcoin goes up the fund should go up no? I am worried if bitcoin goes up 10x and I am sitting with my original funds or minus according to the performance difference today. would love some clarity if anyone has some.

[Moogul]

It's a closed end fund. It's simply based on supply and demand in the market and it's also relatively small and thinly traded compared to a large cap. The NAV which you can find on their website will track BTC price movements very closely, but the funds share price is free to meander around based on market supply/demand. Watch the share price premium to NAV grow over time especially in