The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000.
The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through over-the-counter markets. Accredited and institutional investors typically use the trust to obtain exposure to BTC with their brokerage accounts.