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For brokers & shareholders:
- BTC Report of Organizational Actions Affecting Basis (Form 8937 Comparable Information)
Grayscale Bitcoin Trust ETF
Pioneering access
to Bitcoin
Ticker:
GBTC
Grayscale Bitcoin Trust ETF, an exchange traded product, is not registered under the Investment Company Act of 1940 (or the ’40 Act) and therefore is not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds.
Investment Strategy
Grayscale Bitcoin Trust ETF is solely and passively invested in Bitcoin. Its investment objective is to reflect the value of Bitcoin held by the Trust, less expenses and other liabilities.
Bitcoin is a digital asset that is created and transmitted through the operations of the peer-to-peer Bitcoin Network, a decentralized network of computers that operates on cryptographic protocols. The Bitcoin Network allows people to exchange tokens of value, Bitcoins, which are recorded on a public transaction ledger known as a Blockchain.
$
0
Market Price
As of 11/29/2024
0
%
1 Day Market Price Change
As of 11/29/2024
0
Daily Volume (Shares)*
As of 11/29/2024
*Trading generally takes place throughout the normal trading hours (typically 9:30am – 4:00pm EST). Daily volume shares is updated between 1am and 5am EST to reflect previous trading day activity.
Why GBTC?
First to Trade
GBTC was the first spot Bitcoin exchange-traded product to commence trading in the US.
Long Operating History
Created in 2013, GBTC has a long operating history as the first publicly-traded Bitcoin fund in the US.
Specialist Sponsor
GBTC is sponsored by Grayscale, one of the the world’s leading crypto asset managers with over a decade of experience operating crypto investment products.
Name
Grayscale Bitcoin Trust ETF
Distribution Frequency
None
Ticker
GBTC
Trust Inception Date
09/25/2013
Primary Listing Market
NYSE ARCA
Public Quotation Date
05/04/2015
CUSIP
389637109
ETF Listing Date
01/11/2024
ISIN
US3896371099
Key Fund Information
As of 11/29/2024
Assets Under Management (Non-GAAP)
$20,994,827,193.77
Base Currency
USD
Shares Outstanding
271,350,100
Sponsor
Grayscale Investments, LLC
Total Expense Ratio*
1.50%
Index Provider
CoinDesk Indices, Inc.
Total Bitcoin in Trust
215,517.1489
Fund Administrator
BNY
Bitcoin per Share
0.00079424
Digital Asset Custodian
Coinbase Custody Trust Company, LLC
Marketing Agent
Foreside Fund Services, LLC
*Prior to 1/11/2024 the expense ratio was 2.00%
Performance
GBTC was created as a private placement over a decade ago. In 2024, it uplisted to NYSE Arca as a spot Bitcoin ETP.
Daily Performance
As of 11/29/2024
Net Asset Value (NAV) per Share
$77.37
XBX Index Price
$97,416.04
NAV per Share 1D Change ($)
$0.62
Daily Volume (Shares)*
2,967,148
NAV per Share 1D Change (%)
0.81%
Market Price 1D Change ($)
$0.27
Market Price
$77.09
Market Price 1D Change (%)
0.35%
Premium / Discount (%)
-0.36%
GAAP AUM
$20,993,648,314.96
30D Median Bid/Ask Spread (%)
0.02%
GAAP NAV per Share
$77.37
*Trading generally takes place throughout the normal trading hours (typically 9:30am – 4:00pm EST). Daily volume shares is updated between 1am and 5am EST to reflect previous trading day activity.
Median 30 Day Spread is a calculation of GBTC's median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
GAAP AUM and GAAP NAV Per Share represents the applicable Product’s principal market price and is calculated using a GAAP methodology. For additional information, see the applicable Product’s financial statements.
Since inception is the ETP listing date of 1/11/2024.
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Shares of any ETP are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns.
Benchmark Index refers to The CoinDesk Bitcoin Price Index (XBX) which provides a USD-denominated reference rate for the spot price of Bitcoin (BTC). The index leverages real-time prices from multiple constituent trading platforms to provide a representative spot price.
Prior to 1/11/24, Principal Market NAV per Share was referred to as NAV per Share and NAV per share was referred to as Digital Asset Holdings per Share. Our definitions and calculations of these non-GAAP measures may not be the same as similar measures reported by other Bitcoin ETPs. Please refer to GBTC's filings with the Securities and Exchange Commission for additional information. NAV is the dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day using the 4pm ET index price. Market Price is the current price at which shares are bought and sold. Market returns are based upon the last trade price.
Historical Performance
Grayscale Bitcoin Trust ETF was launched over a decade ago. Shares were originally offered through a private placement but in mid-2015, shares began trading publicly on OTC Markets under Symbol: GBTC. This continued until 2024 when GBTC uplisted to NYSE as a spot Bitcoin ETP.
1 month | 3 months | 6 months | YTD | 1 year | 3 years | 5 years | 10 years | Annualized
Since
Inception | Cumulative
Since
Inception | |
|---|---|---|---|---|---|---|---|---|---|---|
| NAV Per Share, % | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
The performance table shows the Trust's performance for the time periods shown from inception to 1/11/2024. The Trust's performance prior to 1/11/2024 is based on market-determined prices on the OTCQX marketplace and on the Trust's performance without an ongoing share creation and redemption program. Prior to 1/11/2024, the Trust's shares traded at both premiums and discounts to the value of the Trust's assets, less its expenses and other liabilities, which at times were substantial, in part due to the lack of an ongoing redemption program. Effective as of 1/11/2024, the Trust established an ongoing share creation and redemption program and the shares of the Trust were listed to NYSE Arca. Hence, the Trust's returns for periods prior to 1/11/2024 are not directly comparable to, and should not be used to make conclusions in conjunction with, the Trust's performance for periods subsequent to 1/11/2024.
- September 2013
Grayscale Bitcoin Trust ETF launched, accessible to accredited investors
- May 2015
Grayscale Bitcoin Trust ETF becomes publicly-quoted under Symbol: GBTC, allowing investors to access Bitcoin exposure in their brokerage accounts
- February 2017
Grayscale submits its first application for GBTC to uplist as a spot Bitcoin ETP
- October 2017
GBTC surpasses $1B in assets under management
- January 2020
GBTC voluntarily becomes the first crypto investment vehicle to be an SEC Exchange Act reporting company
- November 2020
GBTC surpasses more than 500,000 Bitcoin held in the Trust
- October 2021
The first Bitcoin Futures ETF launches, and Grayscale resubmits its application to uplist GBTC as a spot Bitcoin ETP
- June 2022
Grayscale files lawsuit in the DC Circuit Court of Appeals in response to the SEC’s decision to deny GBTC's proposal to uplist as a spot Bitcoin ETP
- August 2023
The DC Circuit Court unanimously rules in favor of Grayscale, vacating the SEC's initial denial order to uplist GBTC as a spot Bitcoin ETP
- January 2024
GBTC uplists to NYSE Arca as a spot Bitcoin ETP
History of GBTC
How to Invest in GBTC
Grayscale Bitcoin Trust ETF (Ticker: GBTC) trades on NYSE Arca and is available through your brokerage account. To invest, click below to be redirected to brokerage platforms or search for GBTC on your platform of choice.
FAQs
Have more questions? Please reach out to our Investor Relations team at [email protected] or call us at 866-775-0313.