Eyebrows Raised as Value of Bitcoin Investment Trust is Double That of Underlying Bitcoin
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.
- Japan: E-Commerce Giant Rakuten to Move Crypto Exchange to New Payments Subsidiary
- Major Central Bank Institution BIS: Bitcoin Must Depart From Proof-of-Work
- Total Market Cap Drops $5 Billion as All Major Coins Take Price Hit
- Ethereum On-Chain Transaction Volume Reached Record High in December 2018
- Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 21