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.
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