Grayscale Bitcoin Trust is a digital currency investment vehicle that holds and invests in Bitcoin. The trust is managed by Grayscale Investments, LLC.
, a digital currency asset management firm.
The trust’s objective is to track the performance of the price of Bitcoin, less the expenses of the trust’s operations. The trust’s website describes it as “the first publicly quoted securities solely invested in and deriving value from the price of bitcoin”.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009.
The Grayscale Bitcoin Trust is one of three investment vehicles offered by Grayscale Investments, LLC., a digital currency asset management firm.
The other two trusts are the Ethereum Classic Investment Trust and the Digital Large Cap Fund. All three trusts are non-diversified and invest exclusively in digital currencies.
The trusts are private placements, meaning they are not registered with the Securities and Exchange Commission (SEC) and are not available to most investors. The trusts are only available to accredited investors, which the SEC defines as investors who meet certain income or wealth requirements.
The Grayscale Bitcoin Trust is an SEC-registered investment vehicle that invests exclusively in Bitcoin. The trust’s objective is to track the performance of the price of Bitcoin, less the expenses of the trust’s operations.
The trust is managed by Grayscale Investments, LLC.