Bullboard - Stock Discussion Forum Grayscale Bitcoin Trust ETF GBTC

Grayscale Bitcoin Trust (the Trust) is an investment vehicle. The Trust's purpose is to hold Bitcoins, which are digital assets that are created and transmitted through the operations of the peer-to-peer Bitcoin network, a decentralized network of computers that operates on cryptographic protocols. Its investment objective is for the value of the shares (based on Bitcoin per Share) to reflect... see more

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Grayscale Bitcoin Trust ETF > GBTC has Wealthsimple Crypto BEAT

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Post by indoubtgetout on Sep 15, 2020 9:08pm

GBTC has Wealthsimple Crypto BEAT

by a country mile!! Wealth Simple has a 2% custody fee applied to each trade - I call it a commission for all intensive purposes. Plus you also pay the spread between the bid and ask - not sure if Wealthsimple gets that spread or not. So, if you buy and sell on the same day, you pay 4% trading fees which is freaking HUGE!! Its a rip off!! Sure GBTC has an annual management fee of 3% but you only pay this if you hold GBTC for a whole year. With discount brokerage fees near zero, it makes NO SENSE to buy Wealthsimple crypto......you trade crypto, you don't own it. No wonder GBTC daily average volume is over 5 million shares a day.....insane!!

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