What is the grayscale Bitcoin Trust?

The Grayscale Bitcoin Trust is a traditional financial product that allows institutional investors to gain exposure to bitcoin. The Grayscale Bitcoin Trust is the world’s largest bitcoin fund and the first investment vehicle of its kind to report financials regularly to the U.S. Securities and Exchange Commission (SEC).

What is a grayscale fund?

Bernd Schmid: Grayscale is essentially a trust or it's a fund which buys Bitcoin, and the shares of this fund are traded in the stock exchange. I think it's New York Stock Exchange. You can go to your broker and buy stocks in this trust, essentially shares in this trust.

Does grayscale own GBTC?

Grayscale operates the Grayscale Bitcoin Trust (GBTC), which has $10 billion-plus in assets under management. Digital Currency Group (DCG) has started selling holdings in several investment vehicles run by its subsidiary and digital assets manager Grayscale at a steep discount, according to a Financial Times report citing U.S. securities filings.

What is the Bitcoin Investment Trust (GBTC)?

The fund launched back in 2013 as the Bitcoin Investment Trust (BIT) and has grown rapidly since then. The GBTC now allows investors to gain BTC exposure through a private trust that trades directly on the U.S. stock market (as “GBTC”). As of April 2021, the GBTC holds 654,885 Bitcoin.