Grayscale Investments files $500M IPO for the Bitcoin Investment Trust

Investing | January 24, 2017 By:

Grayscale Investments has filed with the Securities and Exchange Commission (SEC) to list the Bitcoin Investment Trust as an exchange-traded fund in a $500 million initial public offering (IPO).

The trust, which launched in 2013 and exclusively invests in bitcoin, is one of the few options available to institutional investors who seek to exposure to bitcoin. BIT began trading on the OTCQX market May 4 under the ticker symbol GBTC.

The Bitcoin Investment Trust provides a secure structure to gain exposure to the price performance of bitcoin. Eligible shares are quoted on the OTCQX®, the marketplace operated by OTC Markets under the Alternative Reporting Standards and investors can buy and sell shares through most traditional brokerage accounts at prices dictated by the market.

Founded in 2013, Grayscale Investments builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital. A trusted authority on digital currency investing, it provides market insight and investment exposure to the developing digital currency asset class.