Pricing efficiency of Bitcoin Trusts

Fahad Almudhaf

Applied Economics Letters, 2018, vol. 25, issue 7, 504-508

Abstract: This article examines the pricing efficiency of Bitcoin Investment Trust. We investigate the deviation between prices and net asset values and find that there is a significant and persistent premium with an average of 44%. Such evidence points to pricing inefficiency of the currently available trust and encourages practitioners to introduce better instruments such as Exchange Traded Funds as alternatives to investors interested in having exposure to bitcoins and the digital currencies market.

Date: 2018
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DOI: 10.1080/13504851.2017.1340564

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