Grayscale Bitcoin Trust ETF (GBTC) USD Price

Grayscale Bitcoin Trust (GBTC) is a spot Bitcoin exchange-traded fund offered by Grayscale Investments, a prominent digital currency asset management firm founded by Barry Silbert. Grayscale charges a 1.50% annual fee, which covers the cost of managing the fund. This fee is subject to change. Grayscale’s GBTC first began operation in 2013 as a trust before successfully converting into a spot ETF in Jan. 2024. Coinbase Custody Trust Company LLC is the custodian of the Bitcoin of Grayscale’s spot ETF.

Established in 2013, Grayscale is a subsidiary of Digital Currency Group. Grayscale's primary business activity involves offering investment products that provide exposure to digital assets, primarily cryptocurrencies, without the direct need for investors to manage the underlying assets. This is achieved through its suite of investment trusts, which are publicly traded and available to institutional and individual investors. These products are designed to track the price movement of various cryptocurrencies, including Bitcoin, Ethereum, and several others, allowing investors to gain exposure to the digital asset market in a regulated and familiar manner. Some of these trusts have been converted to ETFs and Grayscale is pushing for more of them to follow suit.

The firm is known for its flagship product, the Grayscale Bitcoin Trust, which was the first publicly quoted Bitcoin investment vehicle in the United States. Grayscale Bitcoin Trust has played a significant role in increasing institutional and retail interest in Bitcoin as an asset class. Over the years, Grayscale has expanded its offerings to include trusts for other cryptocurrencies, such as Ethereum (ETHE), Litecoin (LTCN), and more.

Grayscale's activities in the digital asset ecosystem extend beyond asset management; the company is actively involved in advocating for the development and adoption of digital currencies through research, market insights, and public policy efforts.