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Pricing Efficiency of Bitcoin Trusts

Almudhaf, F. (2018) “Pricing efficiency in Bitcoin trusts”, Applied Economics Letters, 25(7) 504-508.

Posted: 2 Sep 2020

See all articles by Fahad Almudhaf

Fahad Almudhaf

Department of Communication Disorders Sciences - Department of Finance and Financial Institutions

Date Written: 2018

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.

Keywords: bitcoin, pricing efficiency, trusts, premium, cryptocurrency

JEL Classification: G10, G12, G14

Suggested Citation

Almudhaf, Fahad, Pricing Efficiency of Bitcoin Trusts (2018). Almudhaf, F. (2018) “Pricing efficiency in Bitcoin trusts”, Applied Economics Letters, 25(7) 504-508. , Available at SSRN: https://ssrn.com/abstract=3660107

Fahad Almudhaf (Contact Author)

Department of Communication Disorders Sciences - Department of Finance and Financial Institutions ( email )

Kuwait

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