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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 ...
(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.
Shares of Grayscale's Bitcoin Trust (GBTC) 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 ...
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.
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]
By Niket Nishant and Hannah Lang (Reuters) -Digital asset manager Grayscale Investments on Tuesday filed for a spin-off of its spot bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust ...
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