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GBTC - which in January received approval to convert from a trust to an ETF - currently has higher fees than its peers, one of the key factors in drawing investors to rival ETFs, Reuters has reported.
Shares of Grayscale's Bitcoin Trust have gained more than 17% since Friday as optimism around the company's efforts to convert the trust to an ETF grows.As of Wednesday, GBTC traded at a 35.7% ...
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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 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]
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Last week Grayscale CEO Michael Sonnenshein said in an interview with Yahoo Finance that "we have to be a little bit patient." Michael Sonnenshein, CEO of Grayscale, in 2022. (Arturo Holmes/Getty ...