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Who owns grayscale bitcoin trust

Who Owns Grayscale Bitcoin Trust: A Comprehensive Review

Curious about who owns Grayscale Bitcoin Trust? Look no further! In this review, we will delve into the positive aspects, benefits, and conditions for using Grayscale Bitcoin Trust. Let's explore:

I. Overview of Grayscale Bitcoin Trust

  • Grayscale Bitcoin Trust (GBTC) is a popular investment vehicle that enables individuals and institutions to gain exposure to Bitcoin without the need to directly own and manage the cryptocurrency.
  • GBTC is a publicly-traded trust, listed on the OTCQX market, providing a convenient way to invest in Bitcoin through traditional brokerage accounts, including retirement accounts.

II. Positive Aspects of Grayscale Bitcoin Trust:

  1. Easy Accessibility:

    • GBTC offers a simple investment option for those interested in Bitcoin, eliminating the complexities associated with direct ownership and storage of cryptocurrencies.
    • It can be purchased through most brokerage accounts, making it accessible to a wide range of investors.
  2. Established Track Record:

    • Grayscale Bitcoin Trust has been in operation since 2013, making it one of the longest-standing Bitcoin investment options.
    • Its longevity speaks to the trust it has garnered within the market and its ability to weather various market cycles.
Largest shareholders include ARK Investment Management LLC, ARKW - ARK Next Generation Internet ETF, MSEQX - Growth Portfolio Class I, KINETICS PORTFOLIOS TRUST - Kinetics Internet Portfolio, KINETICS PORTFOLIOS TRUST - Kinetics Paradigm Portfolio, MGGIX - Global Opportunity Portfolio Class I, MFAIX - International

Who is behind Grayscale?

Grayscale Investments
TypeSubsidiary
Key peopleMichael Sonnenshein (CEO)
ServicesAsset management
AUMUS$50 billion (2021)
ParentDigital Currency Group

Who is the CEO of Grayscale Bitcoin?

5 days ago CEO Michael Sonnenshein Grayscale CEO Michael Sonnenshein joins 'Squawk Box' to discuss the lobbying efforts in the cryptocurrency space, when Bitcoin's price action will focus on an ETF, and more.

How many Bitcoin's does Grayscale own?

Grayscale has used that capital to buy more and more BTC. Now, it's accumulated over 643,572 bitcoins, which is around $17.5 billion in assets as of the time of this writing (Aug 31, 2023).

Does GBTC actually own Bitcoin?

GBTC operates as a closed-end unit trust and issues a fixed number of shares to investors in exchange for capital, which is then used to buy Bitcoin. The trust holds a significant amount of actual bitcoins, and the price of its shares is meant to reflect the value of Bitcoin held per share.

What happens to GBTC if it becomes an ETF?

As of November 29, 2023, GBTC's AUM was $23.4B and it was trading at a discount of 8.09%, or $1.89B. This means that upon GBTC uplisting to NYSE Arca and becoming an ETF, approximately $1.89B of value would be unlocked for investors through the arbitrage mechanism, assuming the current discount disappears.

What is the difference between GBTC and an ETF?

Unlike a Bitcoin ETF, GBTC operates more like a closed-end fund, lacking the ability to create or redeem shares based on market demand. This structure can contribute to the premium or discount related to NAV and puts limits on the flexibility of investors and the fund manager.

Frequently Asked Questions

How many GBTC equals 1 Bitcoin?

Convert Bitcoin to Grayscale Bitcoin Trust
GBTCBTC
1 BTC1,195.42 GBTC
5 BTC5,977.12 GBTC
10 BTC11,954 GBTC
25 BTC29,886 GBTC

What kind of trust is GBTC?

Grayscale Bitcoin Trust (GBTC) debuted in September 2013 as a private, open-ended trust for accredited investors. In 2015, it received FINRA approval to trade publicly, which meant that investors could buy and sell public shares of the trust under its ticker symbol, GBTC.

What is the symbol for grayscale Bitcoin?

GBTC GBTC: Grayscale Bitcoin Trust (BTC) - Stock Price, Quote and News - CNBC.

Is BITO or GBTC better?

BITO - Performance Comparison. In the year-to-date period, GBTC achieves a 337.82% return, which is significantly higher than BITO's 148.80% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.

What is crypto trust?

Under a trust, your cryptocurrency will be managed by your successor trustee after you die. Your successor trustee will be responsible for accessing, maintaining, securing, and distributing your cryptocurrency according to the terms of your trust.

What is crypto coin used for?

Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It's a peer-to-peer system that can enable anyone anywhere to send and receive payments.

What is crypto coin in simple terms?

A cryptocurrency is a digital currency, which is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system.

FAQ

How do I withdraw money from trust crypto?
Unlike any centralized exchange like Coinbase or Binance, Trust Wallet does not directly support converting crypto to fiat currency or sending withdrawals to a bank account. Therefore, users must first send their funds to an external crypto exchange, offering fiat cashouts to withdraw money from Trust Wallet.
How much BTC does GBTC own?
As of November 2022, the Grayscale Bitcoin Trust holds one of the largest shares of bitcoin (BTC), with 643,572 BTC, worth about $10.6 billion, approximately 3% of all Bitcoin currently available.
Who holds the most Bitcoin?
Satoshi Nakamoto Satoshi Nakamoto (~1.1 million BTC) It's unsurprising that the pseudonymous creator of Bitcoin, Satoshi Nakamoto, remains the largest holder of the cryptocurrency. It's estimated they hold an astonishing fortune of around 1.1 million BTC.
How much Bitcoin does BlackRock own?
Based on their direct and indirect investments, it is estimated that BlackRock, State Street, and Vanguard collectively own between 1% and 2% of all Bitcoin in circulation. This represents a significant amount of Bitcoin, and it suggests that these firms are taking the cryptocurrency seriously as an investment asset.
Is GBTC backed by Bitcoin?
The reason for the price discrepancy between GBTC, which is backed by Bitcoin, and the cryptocurrency itself, lies in the product's structure — GBTC is a closed-ended fund, meaning that its shares cannot be quickly redeemed for the underlying Bitcoin.
What is the correlation between BTC and GBTC?
The correlation between GBTC and BTC-USD is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Who owns grayscale bitcoin trust

How much Bitcoin does GBTC own? 643,572 BTC As of November 2022, the Grayscale Bitcoin Trust holds one of the largest shares of bitcoin (BTC), with 643,572 BTC, worth about $10.6 billion, approximately 3% of all Bitcoin currently available.
How much Bitcoin Grayscale holds? 643,572 BTC As of November 2022, the Grayscale Bitcoin Trust holds one of the largest shares of bitcoin (BTC), with 643,572 BTC, worth about $10.6 billion, approximately 3% of all Bitcoin currently available.
Does Grayscale have Bitcoin? Grayscale Bitcoin Trust is one of the first securities solely and passively invested in Bitcoin (“BTC”) that enables investors to gain exposure to BTC in the form of a security while avoiding the challenges of buying, storing, and safekeeping BTC, directly.
What is Grayscale's net worth? Grayscale Bitcoin Trust (BTC) (GBTC) GBTC has a market cap or net worth of $6.49 billion as of December 22, 2023. Its market cap has increased by 344.70% in one year.
How high will GBTC go? Grayscale Bitcoin Trust (BTC) (OTCQX US:GBTC) The 1 analysts offering 12-month price forecasts for Grayscale Bitcoin Trust (BTC) have a median target of 8.35, with a high estimate of 8.35 and a low estimate of 8.35. The median estimate represents a -76.99% decrease from the last price of 36.30.
How many Bitcoin's does GBTC own? Grayscale Investments Holdings
SymbolTotal Holdings7d Change
BTC GBTC619.87K BTC-235.41
ETH EEHT2.96M ETH-1.42K
ETC ETCG11.56M ETC-5.54K
LTC LTCN1.49M LTC-713.65
  • Who owns majority of Bitcoin?
    • Satoshi Nakamoto Satoshi Nakamoto (~1.1 million BTC) It's unsurprising that the pseudonymous creator of Bitcoin, Satoshi Nakamoto, remains the largest holder of the cryptocurrency.
  • Who owns Bitcoin trust?
    • Top 10 Owners of Grayscale Bitcoin Trust (BTC)
      StockholderStakeShares owned
      ARK Investment Management LLC0.57%3,971,906
      Horizon Kinetics Asset Management...0.33%2,307,245
      Kingswood Wealth Advisors LLC0.07%497,811
      Aristides Capital LLC0.07%478,131
  • How is GBTC compared to Bitcoin?
    • BTC-USD - Volatility Comparison. Grayscale Bitcoin Trust (BTC) (GBTC) has a higher volatility of 15.68% compared to Bitcoin (BTC-USD) at 12.06%. This indicates that GBTC's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure.
  • Who owns most GBTC?
    • Largest shareholders include Horizon Kinetics Asset Management Llc, ARK Investment Management LLC, ARKW - ARK Next Generation Internet ETF, MSEQX - Growth Portfolio Class I, KINETICS PORTFOLIOS TRUST - Kinetics Internet Portfolio, KINETICS PORTFOLIOS TRUST - Kinetics Paradigm Portfolio, CPOAX - Morgan Stanley Insight
  • How much Bitcoin is held by GBTC?
    • Grayscale Investments Holdings
      SymbolTotal HoldingsTotal Holdings
      BTC GBTC619.87K BTC$27.42B
      ETH EEHT2.96M ETH$6.70B
      ETC ETCG11.56M ETC$240.61M
      LTC LTCN1.49M LTC$106.13M
  • Who owns the most Bitcoin?
    • Satoshi Nakamoto It's unsurprising that the pseudonymous creator of Bitcoin, Satoshi Nakamoto, remains the largest holder of the cryptocurrency. It's estimated they hold an astonishing fortune of around 1.1 million BTC.