When it comes to Bitcoin, there are a lot of different ways to get your hands on the popular cryptocurrency. One popular method is through the Grayscale Bitcoin Trust (OTCQX:GBTC), which is an investment vehicle that allows investors to gain exposure to Bitcoin without having to actually purchase and store the digital currency.
However, GBTC doesn’t just offer exposure to Bitcoin – it also provides exposure to Ethereum (ETH), another popular cryptocurrency. So, does GBTC have Ethereum?
The answer is a bit complicated. While GBTC does offer exposure to Ethereum, it does so indirectly. You see, GBTC is a trust that owns and holds Bitcoin.
NOTE: WARNING: Investing in GBTC is risky and can result in significant losses. GBTC does not actually hold Ethereum, and instead functions as a type of security that tracks the price of Ethereum. As such, investing in GBTC does not give you actual ownership of Ethereum, nor does it provide any rights to use the Ethereum network or its services. Be sure to fully understand the risks and implications before investing in GBTC or any other cryptocurrency-related investment product.
When you buy shares of GBTC, you are essentially buying ownership in that trust. As such, GBTC’s Ethereum holdings are actually just a small part of its overall portfolio.
That said, GBTC does have a significant amount of Ethereum. As of March 2021, the trust held nearly 16,000 ETH – worth over $22 million at current prices.
That’s about 0.27% of GBTC’s total assets under management (AUM), which means that Ethereum makes up a pretty tiny portion of the trust’s holdings.
So, while you can get exposure to Ethereum through GBTC, it’s important to remember that the cryptocurrency only makes up a small part of the trust’s overall portfolio. If you’re looking for significant exposure to Ethereum, you may want to look elsewhere.
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