The world’s largest digital asset manager is starting to assemble its ETF team.
Analysts expect bitcoin to pause at around $40K before its next leg up.
The new fund joins a growing number of offerings seeking to help investors easily bet on growth in decentralized finance (DeFi).
The world’s largest custodian bank will begin handling accounting and administration services for the Grayscale Bitcoin Trust in October.
The fund joins the company's Bitcoin Trust and Ethereum Trust as reporting products.
OBTC is filing to become an SEC reporting company in a move that could put it on par with Grayscale's offering.
The cryptocurrency is expected to hold support above $30,000.
Investors who locked in borrowed coins will need to repurchase those to repay the loan, cryptocurrency pundits say.
The digital-asset manager sold some existing constituents of the fund and used the proceeds to purchase ADA.
One analyst interpreted the move as an arbitrage play.
The 13 include 1inch, Bancor, Curve, Polygon and 0x.
The discount is the difference between the price of the underlying bitcoin asset and the value implied by the price of the trust’s shares.
Anyone with a stock account can now make a savvy (albeit risky) bet on GBTC pricing disparities, previously exclusive to big players.
The crypto asset manager's bitcoin and ethereum trusts both achieved reporting status last year.
The ETF issuer raised eyebrows last month when it switched its ticker symbol to $BTC after an investment from digital asset manager Grayscale.