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An exchange-traded fund, or ETF, is a basket of assets (most commonly stocks) that trade under a single ticker symbol. Instead of buying stocks, the Grayscale Bitcoin Trust ETF purchases Bitcoin ...
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’s GBTC, the trust that the asset manager successfully sued the Securities and Exchange Commission to convert into an ETF—is the only issuer, due to a technicality, that's free to ...
As of April 2021, six of Grayscale's funds were traded publicly on the OTCQX market: Bitcoin Cash, Grayscale Bitcoin Trust, Grayscale Ethereum Trust, Grayscale Ethereum Classic Trust, Grayscale Digital Large Cap Fund, and the Grayscale Litecoin Trust. [41]
A spot Bitcoin ETF, which tracks the current price of the popular cryptocurrency, had long been a pipe dream for the crypto industry, with the hope it could open new flows of investment from ...
Grayscale sued the SEC, arguing that because the agency previously approved certain surveillance agreements to prevent fraud in bitcoin futures-based ETFs the same setup should be satisfactory for ...
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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 ...