Grayscale announced that out of the firm’s $2.1 billion worth of assets under management, $1.97 billion resides in its bitcoin investment trust.
Bitcoin Investment Trust News
Bitcoin Investment Trust (BIT) is an open-ended private trust. BIT was launched in 2013 by Barry Silbert from Digital Currency Group. Currently, Bitcoin Investment Trust is sponsored by Grayscale Investments LLC. BIT is a wholly-owned SecondMarket Holdings, Inc. subsidiary and affiliate. According to the Bitcoin Investment Trust’s information given on their official website, the company enables investors to gain profit from Bitcoin price changes without the need of buying and storing cryptocurrency. Bitcoin Investment Trust’s shares were the first securities pegged by Bitcoin and traded publicly. Bitcoin Investment Trust’s stocks have officially received the ticker ‘GBTC.’ Bitcoin Investment Trust, whose value of share will be equal to about one-tenth of BTC’s price minus operational costs, has eliminated all regulatory constraints on its way to trade.
- Bitcoin Network Now 8 Times More Powerful Than It Was at $20K Price
- Crypto and FB’s Libra Are Bridges to a Bitcoin World, Says Tim Draper
- Bank of America Files Patent for Settlement System Citing Ripple
- Hodler’s Digest, July 15–21: Libra Special! Top Stories, Price Movements, Quotes and FUDs of the Week
- Bitcoin Price Shuns Volatility as Analysts Warn of Potential Drop to $7,000