- For institutional investment managers, GBTC has become a popular option to get into crypto. Ark Investment, owned by Cathie Wood, holds 7.9 million units for GBTC. Next Generation Internet ETF (ARKW), which is worth around $200 million.
- Digital Currency Group, Grayscale’s parent firm, has authorised $250 million in share repurchases across its nine publicly traded trusts.
- The trust traded at a 29 percent discount to its NAV of $34.84 per share at Monday’s closing price of $24.67.
Anything trading at 70 cents on the dollar in closed-end funds could appear too good to pass up. The Grayscale Bitcoin Trust is currently offering such a deal to investors. However, in this scenario, a reduction may not be worth the cost.
Ark Investment, owned by Cathie Wood, holds 7.9 million units for GBTC
With over 700,000 investors and $24.1 billion in assets, the Grayscale Bitcoin Trust (ticker: GBTC) is the world’s largest publicly listed Bitcoin fund. It’s a private-placement trust that trades over the counter like a stock. It’s also one of the few options for investors in publicly listed stocks to get direct exposure to Bitcoin rather than through futures contracts, which is how exchange-traded funds like the ProShares Bitcoin Strategy ETF get their exposure to Bitcoin (BITO).
For institutional investment managers, GBTC has become a popular option to get into crypto. Ark Investment, owned by Cathie Wood, holds 7.9 million units for GBTC in the Ark Next Generation Internet ETF…
