Bitcoin Investment Trust Goes Public with Early Debut
Bitcoin Investment Trust (BIT) has been approved to go public on the securities marketplace OTC Markets Group, with shares available to be traded as early as next week. However, this may be available only to investors of Grayscale Investments, which will sponsor BIT. The fund will be listed under the symbol GBTC. Grayscale Investments is a private investment vehicle owned by Digital Currency Group (DGC), which would take on the responsibilities to launch and run the fund. Director of sales & business development Michael Sonnenshein says that they are trying to establish themselves as a....
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The Bitcoin Investment Trust (BIT) now holds more than 100,000 BTC, according to Barry Silbert, CEO of SecondMarket and founder of the trust. Silbert has big plans for the Bitcoin Investment Trust, which is expected to open for public investors sometime in the fourth quarter of 2014. For the time being, the trust is a private investment vehicle but once it opens to the general public, the fund is expected to attract a new breed of bitcoin investors. Silbert believes the 100,000 mark is a big milestone for BIT, and it's hard to argue otherwise. After all, this grand total amounts to almost....
After reporting on Wednesday that Fidelity users would be able to add Second Market's Bitcoin Investment Trust to their list of securities in their Individual Retirement Accounts [IRA], we here at CryptoCoinsNews must issue a correction. Fidelity has done an apparent 180 in the time that this story has gone viral. On Wednesday, it was first reported on Marketwatch that some Fidelity clients had been allowed to invest in the Bitcoin Investment Trust through their IRAs. However, earlier today, Fidelity's director of public relations Rob Beauregard said specifically in a phone interview: We....
The Bitcoin Investment Trust (BIT) is set to become the first publicly traded bitcoin fund, having received approval from FINRA, the largest independent securities regulator in the US. The trust, which launched as a private fund for accredited investors in 2013, is not technically an exchange-traded fund (ETF). To speed up the process of approval, the BIT has made use of a legal loophole that enables public fund holders to sell their shares after a 12-month period. Barry Silbert, creator of the Bitcoin Investment Trust, said: "Bitcoin Investment Trust (BIT) shares have been assigned a....
A new Bitcoin ETF called SolidX Bitcoin Trust has filed its S-1, an SEC filing used by establishments to register public securities, to challenge the Winklevoss Bitcoin Trust. Since the launch of Grayscale Investment’s Bitcoin Investment Trust in 2015, publicly tradable Bitcoin shares and Bitcoin ETFs have become increasingly popular amongst conventional investors across the world. However, GBTC and other forms of public Bitcoin investment tools have been criticized for their unproportionally high premium rates, that often displayed a range of 10% to 70% in rate difference compared to the....
Bitcoin Investment Trust (BIT) has received approval to list on the securities marketplace OTC Markets Group, meaning shares could begin trading as soon as next week. In preparation for the debut, the private investment vehicle owned by Digital Currency Group (DCG) has announced the launch of Grayscale Investments, which will sponsor the BIT, taking on responsibilities as necessary to register and run the fund. Commenting on the news, director of sales & business development Michael Sonnenshein laid out a broad vision for the latest entrant in the larger DCG entity, the parent brand for....