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Additionally, the ETF buys Bitcoin continually, so it's essentially averaging up over time as Bitcoin's price rises. As a result, the ETF doesn't perform as well as Bitcoin itself. Bitcoin Price Chart
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.
Since the approval, competitors BlackRock's iShares Bitcoin ETF and Fidelity Wise Origin Bitcoin Fund have recorded inflows of $10.59 billion and $6.37 billion, respectively.
When the brand-new Grayscale launched its Bitcoin trust in 2013, it offered something truly novel: a way for accredited investors to gain access to the cryptocurrency in the form of shares of ...
(Reuters) -Shares of Grayscale Bitcoin Trust jumped 2.4% on Monday after the exchange-traded fund (ETF) that tracks the price of bitcoin saw its first day of inflow since January.
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]
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.
Grayscale Bitcoin Trust; Greater Boston Track Club This page was last edited on 19 January 2024, at 20:20 (UTC). Text is available under the Creative ...