Publicly traded Bitcoin fund Grayscale Bitcoin Trust filed a form with the United States SEC to become the first crypto fund to report to the regulator.
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.
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New product the company says “looks and feels like” a Bitcoin ETF falls flat trying to appeal to its high-end client base.
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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.
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by Joseph Young
Following the recent spike in bitcoin trading volume and price, shares of Grayscale Investment’s Bitcoin Investment Trust (BIT) surged to US$32 per share, marki...
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by Joseph Young
Bitcoins can now be traded on the public markets. After a long wait, Grayscale Investment’s Bitcoin Investment Trust (BIT) received formal approval on March 26 ...
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by Carlo C
Barry Silbert continues to shock his fans with the bold moves that made him one of the shrewdest Bitcoin investors in the world.
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