Leading indicator? Nah, it's for people too stupid to open a Coinbase account and buy BTC. Keep in mind, GBTC is less than 10% of one BTC. Per the website it's 0.09242821 of 1 BTC. https://grayscale.co/bitcoin-investment-trust/ It would be interesting sub $360/share, but since you can't trade in outside of market hours 9:30am EST to 4:00pm EST (with thin volume at that) it should be trading at a discount to the 24 hour BTC market.