Data: The Bitcoin fund market's negative premium has reached 5.9%, the lowest level in two years

Analyst Maartunn cited CryptoQuant data indicating that the current premium in the Bitcoin fund market has reached -5.9%, the lowest level in two years. This means that Bitcoin ETFs like IBIT and GBTC are currently trading at a discount of 5.9% relative to their net asset value (NAV). This suggests that the market demand for exposure to these funds has significantly weakened compared to the value of their underlying holdings.