December 11, 2023

Grayscale registers GBTC Bitcoin Trust with SEC and expands investor opportunities

Grayscale Bitcoin Trust has become the first instrument for investing in digital assets, according to which the10-K reports are submitted to the U.S. Securities and Exchange Commission (SEC).

Managing Grayscale InvestmentsThe Bitcoin Trust company, filed an application with the regulator to register a 10-K form for GBTC in November. The company considered that this would increase investor confidence in a product that would take on a familiar structure.

According to the law, 60 days after the filing, the application became automatically accepted by the regulator.

Grayscale should now file quarterly and10-K annual reports. However, the status of an instrument reporting to the SEC gives investors in GBTC new opportunities - in particular, they will be able to sell trust securities on the secondary market after 6 months, and not a year later, as before.

Grayscale manages ten investmentdigital asset-based products, but the vast majority of funds investors invest in GBTC. At the end of 2019, the value of the assets of the Bitcoin Trust amounted to $ 2.3 billion.

Over the past year, the company attracted to its fundsinvesting in digital currencies of $ 600 million. The most successful was the fourth quarter with $ 225 million, of which $ 193.8 million came from investments in the Grayscale Bitcoin Trust.

Recall that Grayscale Investments expects an influx of investments in bitcoin after the transfer of $ 68 trillion of savings between generations.