GBTC is the stock ticker of the Bitcoin Investment Trust (BIT) company, which has become the first public Bitcoin fund. GBTC's price directly depends on the increase in demand for GBTC, which — for its part — might be affected by BTC's price. That actually happened when BIT was launched and the BTC price increased 20 percent. The first official announcement about the appearance of BIT was made in 2015. Fund BIT was founded in 2013 by founder and CEO of Digital Currency Group, Barry Silbert. BIT has become the first fund that trades Bitcoin in a public exchange and has obtained the necessary agreements from regulatory organs and received the official Bitcoin Investment Trust GBTC ticker. GBTC of Bitcoin Investment Trust is an important step on the way to the massive acceptance of cryptocurrency.
The latest meltdown in BitFinex BTC shorts could follow up with a spike in spot Bitcoin bids, stated one analyst.
Bitcoin price set to rebound? BTC shorts on Bitfinex crash by 25% after record spikes
On-chain data shows two dramatic declines in the Bitcoin reserves held by a Canadian Bitcoin fund but there's a catch.
Record outflows from Canada’s biggest Bitcoin fund see BTC reserves drop by 50%
Bitcoin prices remain under pressure in the $30,000-$40,000 zone as traders brace for the 16,000 BTC worth of GBTC shares unlocking in July.
Is Bitcoin in danger of losing $30K with Grayscale's big GBTC unlocking in two weeks?
Bitcoin bears could take a $31-million lead if BTC falls below $33,000 by Friday’s options expiry, but at the moment, both sides are balanced.
Bulls and bears fight over $34K Bitcoin price as $445M options expiry looms
The investment bank reported owning a significant stake in GBTC as of April 30, according to a recent filing with the SEC.
Morgan Stanley equity fund owns 28.2K shares of Grayscale Bitcoin Trust, per SEC
The biggest single unlocking day will flush sellers from the market in July, opening up both volatility and bullish potential.
Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking
The Grayscale Bitcoin Trust continues to trade at a discount compared to BTC, a situation that presents a unique challenge to Grayscale and investors.
GBTC discount presents a unique challenge for Grayscale and investors