2023 年 12 月初,我称当时的资产净值溢价 43%
Grayscale Bitcoin Cash Trust (OTCQX:BCHG) trades at a premium to NAV that is still unsustainably high. While the trust has seen a massive premium throughout 2023, the premium has narrowed materially from the highs earlier this year and last.
灰度比特币现金信托(OTCQX:BCHG)的交易价格高于资产净值,但仍处于不可持续的高位。尽管该信托基金在 2023 年全年出现了巨额溢价,但溢价较今年早些时候和去年的高点已大幅收窄。
Now, the trust trades at a premium of around 20%, down from highs of over 100%. This narrowing premium is likely due to a combination of factors, including the recent bear market in cryptocurrencies, which has seen the price of Bitcoin Cash (BCH-USD) fall by more than 70% from its all-time high.
现在,该信托的溢价约为 20%,低于 100% 以上的高点。溢价缩小可能是多种因素造成的,包括最近的加密货币熊市,比特币现金(BCH-USD)的价格从历史高点下跌了 70% 以上。
The trust's premium has also been impacted by the Grayscale Bitcoin Trust (OTCQX:GBTC), which trades at a discount to NAV. This discount has widened in recent months, putting pressure on BCHG's premium.
该信托的溢价还受到灰度比特币信托(OTCQX:GBTC)的影响,该信托的交易价格低于资产净值。近几个月来,这种折扣扩大,给 BCHG 的溢价带来压力。
Despite the narrowing premium, BCHG still trades at a level that is unsustainably high. This is because the trust's NAV can fluctuate wildly, depending on the price of BCH. If the price of BCH falls, the trust's NAV will also fall, which could lead to a loss for investors who purchased the trust at a premium.
尽管溢价收窄,BCHG 的交易价格仍然处于不可持续的高位。这是因为信托的资产净值可能会根据 BCH 的价格大幅波动。如果 BCH 的价格下跌,信托的资产净值也会下跌,这可能会导致溢价购买信托的投资者遭受损失。
Investors should be aware of the risks associated with investing in BCHG before making any investment decisions.
投资者在做出任何投资决定之前应了解与投资 BCHG 相关的风险。