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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.
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.
Spot Bitcoin ETFs track the price of the crypto on effectively the same percentage basis, even if they trade at different prices. If Bitcoin rises 1 percent, then the fund should rise 1 percent.
Best Crypto ETF Methodology. To select the top crypto ETFs, GOBankingRates first reviewed the largest funds with the highest total assets under management.
The fund was approved to trade on public markets by the FINRA in October 2019. [citation needed] In May 2022, it was reported that Grayscale would list an exchange-traded fund (ETF) for the first time in Europe. The ETF was said to be made up of companies representing the "Future of Finance", and would begin trading on May 17. [38]
Recently, the well-known crypto investment firm Grayscale filed an application to list a Cardano ETF on the New York Stock Exchange, surprising some who didn't consider such an ETF a possibility.
The ETF has returned over 11,000% over the past decade. Will it continue? That's the million-dollar question.
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 ...