On January 20, 2017, Grayscale Investments LLC filed for an initial public offering (IPO) for its Bitcoin Investment Trust to be listed on the NYSE Accra exchange in an attempt to bring bitcoin investing to the masses through a publicly tradable investment vehicle in the form of a new stock.
Grayscale Investments, the investment management subsidiary of the Barry Silbert-led Digital Currency Group, established the Bitcoin Investment Trust (BIT) in 2013, hoping to provide investors with the opportunity to invest in the digital currency bitcoin without having to purchase and securely store the digital currency themselves.
The Bitcoin Investment Trust, which carries the ticker GBTC, tracks the TradeBlock XBX Index 24-hour VWAP bitcoin index and charges a 2 percent annual management fee. The Trust currently has around $262 million assets under management. Shares in the Bitcoin Investment Trust can be traded over-the-counter and can be held in traditional investment accounts, such as IRAs and Roth IRAs.
By going public, Grayscale Investments wants to open up its bitcoin investment vehicle to a broader investor base that prefers the comfort of investing in an exchange-traded and fully regulated security.
On May 4, 2017, Grayscale Investments LLC submitted an amendment
Read more ... source: Bitcoin Magazine
News from Darknet
Let's block ads! (Why?)
Powered by Bitcoin Central