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For brokers & shareholders:
- BTC Report of Organizational Actions Affecting Basis (Form 8937 Comparable Information)
Grayscale Bitcoin Trust
Pioneering access
to Bitcoin
Ticker:
GBTC
The Grayscale Bitcoin Trust ETP (“GBTC”) is not a fund registered under the Investment Company Act of 1940 and is not subject to regulation under the Investment Company Act of 1940, unlike most mutual funds or ETPs.
Investment Strategy
Grayscale Bitcoin Trust (GBTC) is solely and passively invested in Bitcoin. Its investment objective is to reflect the value of Bitcoin held by the Trust, less expenses and other liabilities.
Bitcoin is a digital asset that is created and transmitted through the operations of the peer-to-peer Bitcoin Network, a decentralized network of computers that operates on cryptographic protocols. The Bitcoin Network allows people to exchange tokens of value, Bitcoins, which are recorded on a public transaction ledger known as a Blockchain.
$
0
Market Price
As of 09/16/2024
-0
%
1 Day Market Price Change
As of 09/16/2024
0
Daily Volume (Shares)
As of 09/16/2024
*Trading generally takes place throughout the normal trading hours (typically 9:30am – 4:00pm EST). Daily volume shares is updated between 1am and 5am EST to reflect previous trading day activity.
Why GBTC?
First to Trade
GBTC was the first spot Bitcoin exchange-traded product to commence trading in the US.
Long Operating History
Created in 2013, GBTC has a long operating history as the first publicly-traded Bitcoin fund in the US.
Specialist Sponsor
GBTC is sponsored by Grayscale, one of the the world’s leading crypto asset managers with over a decade of experience operating crypto investment products.
Overview
As of 09/16/2024
Name
Grayscale Bitcoin Trust
Distribution Frequency
None
Ticker
GBTC
Trust Inception Date
09/25/2013
Primary Listing Market
NYSE ARCA
Public Quotation Date
05/04/2015
CUSIP
389637109
ETF Listing Date
01/11/2024
ISIN
US3896371099
Key Fund Information
As of 09/16/2024
Assets Under Management (Non-GAAP)
$12,862,304,028.47
Base Currency
USD
Shares Outstanding
278,880,100
Sponsor
Grayscale Investments, LLC
Total Expense Ratio*
1.50%
Index Provider
CoinDesk Indices, Inc.
Total Bitcoin in Trust
222,170.6647
Fund Administrator
BNY
Bitcoin per Share
0.00079665
Digital Asset Custodian
Coinbase Custody Trust Company, LLC
Marketing Agent
Foreside Fund Services, LLC
*Prior to 1/11/2024 the expense ratio was 2.00%
Performance
GBTC was created as a private placement over a decade ago. In 2024, it uplisted to NYSE Arca as a spot Bitcoin ETP.
Daily Performance
As of 09/16/2024
Net Asset Value (NAV) per Share
$46.12
XBX Index Price
$57,893.80
NAV per Share 1D Change ($)
-$1.48
XBX Index 1D Change (%)
None
NAV per Share 1D Change (%)
-3.11%
Daily Volume (Shares)
2,926,853
Market Price
$46.14
Market Price 1D Change ($)
-$1.50
Premium / Discount (%)
0.04%
Market Price 1D Change (%)
-3.15%
30D Median Bid/Ask Spread (%)
0.02%
GAAP AUM
$12,871,692,960.76
GAAP NAV per Share
$46.15
1 month | 3 months | 6 months | YTD | 1 year | 3 years | 5 years | 10 years | Annualized
Since
Inception | Cumulative
Since
Inception | |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Price, % | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| NAV Per Share, % | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Benchmark Index, % | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Since inception is the ETP listing date of 1/11/2024.
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Shares of any ETP are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns.
Benchmark Index refers to The CoinDesk Bitcoin Price Index (XBX) which provides a USD-denominated reference rate for the spot price of Bitcoin (BTC). The index leverages real-time prices from multiple constituent trading platforms to provide a representative spot price.
Prior to 1/11/24, Principal Market NAV per Share was referred to as NAV per Share and NAV per share was referred to as Digital Asset Holdings per Share. Our definitions and calculations of these non-GAAP measures may not be the same as similar measures reported by other Bitcoin ETPs. Please refer to GBTC's filings with the Securities and Exchange Commission for additional information. NAV is the dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day using the 4pm ET index price. Market Price is the current price at which shares are bought and sold. Market returns are based upon the last trade price.
Historical Performance
Grayscale Bitcoin Trust was launched over a decade ago. Shares were originally offered through a private placement but in mid-2015, shares began trading publicly on OTC Markets under Symbol: GBTC. This continued until 2024 when GBTC uplisted to NYSE Arca as a spot Bitcoin ETF.
1 month | 3 months | 6 months | YTD | 1 year | 3 years | 5 years | 10 years | Annualized
Since
Inception | Cumulative
Since
Inception | |
|---|---|---|---|---|---|---|---|---|---|---|
| NAV Per Share, % | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
The performance table shows the Trust's performance for the time periods shown from inception to 1/11/2024. The Trust's performance prior to 1/11/2024 is based on market-determined prices on the OTCQX marketplace and on the Trust's performance without an ongoing share creation and redemption program. Prior to 1/11/2024, the Trust's shares traded at both premiums and discounts to the value of the Trust's assets, less its expenses and other liabilities, which at times were substantial, in part due to the lack of an ongoing redemption program. Effective as of 1/11/2024, the Trust established an ongoing share creation and redemption program and the shares of the Trust were listed to NYSE Arca. Hence, the Trust's returns for periods prior to 1/11/2024 are not directly comparable to, and should not be used to make conclusions in conjunction with, the Trust's performance for periods subsequent to 1/11/2024.
- September 2013
Grayscale Bitcoin Trust launched, accessible to accredited investors
- May 2015
Grayscale Bitcoin Trust becomes publicly-quoted under Symbol: GBTC, allowing investors to access Bitcoin exposure in their brokerage accounts
- February 2017
Grayscale submits its first application for GBTC to uplist as a spot Bitcoin ETF
- October 2017
GBTC surpasses $1B in assets under management
- January 2020
GBTC voluntarily becomes the first crypto investment vehicle to be an SEC Exchange Act reporting company
- November 2020
GBTC surpasses more than 500,000 Bitcoin held in the Trust
- October 2021
The first Bitcoin Futures ETF launches, and Grayscale resubmits its application to uplist GBTC as a spot Bitcoin ETF
- June 2022
Grayscale files lawsuit in the DC Circuit Court of Appeals in response to the SEC’s decision to deny GBTC's proposal to uplist as a spot Bitcoin ETF
- August 2023
The DC Circuit Court unanimously rules in favor of Grayscale, vacating the SEC's initial denial order to uplist GBTC as a spot Bitcoin ETF
- January 2024
GBTC uplists to NYSE Arca as a spot Bitcoin ETF
History of GBTC
How to Invest in GBTC
Grayscale Bitcoin Trust ETP (Ticker: GBTC) trades on NYSE Arca and is available through your brokerage account. To invest, click below to be redirected to brokerage platforms or search for GBTC on your platform of choice.
FAQs
Have more questions? Please reach out to our Investor Relations team at info@grayscale.com