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The ETF euphoria and hopes that the Federal Reserve will soon cut interest rates have propelled bitcoin, the world's biggest cryptocurrency, above $72,000. Bitcoin was last trading at $72,095 ...
ProShares Bitcoin ETF was the first U.S.-based crypto ETF tracking the price of bitcoin futures. According to ProShares, the fund has “performed as designed, providing returns closely aligned ...
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.
A handful of hedge funds made a winning bet on approval of a spot bitcoin exchange-traded fund (ETF) by investing in the Grayscale Bitcoin Trust (GBTC) well ahead of regulatory sign off, according ...
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]
Instead of buying stocks, the Grayscale Bitcoin Trust ETF purchases Bitcoin and holds it securely in cold storage. The ETF's shares represent the value of the underlying Bitcoin.
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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.
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