Grayscale Bitcoin Trust ETF: A Decade of Evolution and Historic Uplisting to NYSE Arca : Investing in Bitcoin has come a long way since the inception of the Grayscale Bitcoin Trust (GBTC) in September 2013. This groundbreaking investment vehicle has witnessed significant milestones, regulatory challenges, and triumphs, ultimately culminating in its uplisting to NYSE Arca as a spot Bitcoin ETF in January 2024.
What is Grayscale Bitcoin Trust?
Grayscale Bitcoin Trust (GBTC) stands as the world’s largest Bitcoin ETF by AUM as of 1/10/2024, offering investors a unique avenue for Bitcoin exposure without the complexities of direct acquisition, storage, and safekeeping. As a passively managed security, GBTC’s shares are designed to reflect the value of Bitcoin held by the Trust, determined by reference to the Index Price, less the Trust’s expenses and liabilities.
Grayscale Bitcoin Trust Holdings: Unveiling the Crypto Portfolio
Grayscale Bitcoin Trust (GBTC) proudly holds the title of the world’s largest Bitcoin ETF by AUM as of 1/10/2024. It serves as a seamless gateway for investors seeking exposure to Bitcoin without the intricacies of direct acquisition. GBTC’s passively managed structure ensures that shares mirror the value of Bitcoin held by the Trust, referencing the Index Price and adjusting for the Trust’s expenses and liabilities.
History of GBTC: A Decade of Transformative Moments
2013 – 2015: The Genesis
- September 2013: Grayscale Bitcoin Trust is launched, catering to accredited investors.
- May 2015: GBTC becomes publicly-quoted under Symbol: GBTC, enabling investors to access Bitcoin exposure in brokerage accounts.
2017 – 2020: Milestones and Recognition
- February 2017: Grayscale submits its first application for GBTC to uplist as a spot Bitcoin ETF.
- October 2017: GBTC surpasses $1 billion in assets under management (AUM).
- January 2020: GBTC voluntarily becomes the first crypto investment vehicle to be an SEC Exchange Act reporting company.
- November 2020: GBTC holds more than 500,000 Bitcoins in the Trust.
2021 – 2024: Legal Battles and Uplisting
- October 2021: The first Bitcoin Futures ETF launches, prompting Grayscale to resubmit its uplisting application.
- June 2022: Grayscale files a lawsuit in response to the SEC’s denial of GBTC’s proposal to uplist.
- August 2023: The DC Circuit Court rules in favor of Grayscale, vacating the SEC’s denial order.
- January 2024: GBTC triumphantly uplists to NYSE Arca as a spot Bitcoin ETF.
Grayscale Bitcoin Trust ETF: A Decade of Evolution and Historic Uplisting to NYSE Arca
Why GBTC Stands Tall
- Largest Bitcoin ETF
- GBTC proudly holds the title of the world’s largest Bitcoin ETF by assets under management as of 1/10/2024.
- Legacy Status
- Established in 2013, GBTC boasts the longest operational history as the first publicly-traded Bitcoin fund.
- Expert Sponsorship
- With Grayscale as the sponsor since inception, GBTC benefits from a decade of experience, making it one of the few asset managers with extensive Bitcoin investment expertise.
- Liquidity
- As an actively traded spot Bitcoin ETF, GBTC provides investors with high flexibility in managing their positions.
Navigating the Numbers: Key Fund Information
As of 01/26/2024, GBTC displays impressive metrics:
- Assets Under Management (AUM): $21,101,517,635.67
- Shares Outstanding: 562,500,100
- Total Expense Ratio: 1.50%
- Total Bitcoin in Trust: 502,712.6098
- Net Asset Value (NAV) per Share: $37.51
How many shares of GBTC equal 1 Bitcoin?
some 1 BTC is equal to 1,118.37 GBTC approx.
1 BTC = 1118.37 GBTC approx.
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