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Grayscale was founded in 2013, launching a bitcoin trust that year. [4] In 2015, the company became a subsidiary of Digital Currency Group. [5] The same year, Grayscale Bitcoin Trust (OTCQX: GBTC) began trading over-the-counter on the OTCQX market, becoming the first publicly traded bitcoin fund in the United States.
Grayscale is yet to determine the fees the Mini Trust will charge, according to the filing. Following the spin-off, both GBTC and the Mini Trust will operate independently, it said.
Grayscale was the world's largest asset manager for digital currency, as of December 2021, with more than $50 billion in assets under management. [7] Grayscale also manages the Grayscale Bitcoin Investment Trust (OTCQX: GBTC), which was the first publicly quoted security solely invested in the price of bitcoin upon its launch in 2013. [3]
The move marks a major milestone for GBTC, which has seen $17.46 billion in withdrawals since it converted from a trust to an easily tradable ETF in January, due to the higher fees it charges ...
The ETF has returned over 11,000% over the past decade. Will it continue? That's the million-dollar question.
Simply put, thanks to Grayscale filing reports about GBTC in 2020, when it was a closed-end trust, the asset manager is considered a “well known, seasoned issuer," or "WKSI," in the eyes of the ...
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That dynamic changed when Grayscale, a prominent crypto asset manager that runs the largest Bitcoin trust, sued the agency in 2022 for allowing futures-based ETFs but not spot vehicles.