GBTC

Grayscale Bitcoin Trust ETF

A spot Bitcoin exchange-traded fund that holds actual Bitcoin so investors can buy and sell exposure to the cryptocurrency through a regular brokerage account, without ever handling the digital coins themselves. It was launched in 2013 by Barry Silbert as the Bitcoin Investment Trust, making it one of the earliest ways for traditional investors to own Bitcoin, and in January 2024 it became one of the first spot Bitcoin ETFs approved by U.S. regulators after a court ruled the SEC's earlier rejection was arbitrary. Its name plays on "grayscale," the range of shades between black and white, fitting its role as a bridge between the traditional financial world and the digital asset space.

Spot Bitcoin exchange-traded fund