The trust requires a minimum investment of $50,000 and charges an annual fee of 2.0 percent, which accrues daily, for accredited investors who wish to subscribe to the Trust as a private placement. On the other hand, investors are eligible to purchase as little as one share of the GBTC public quotation.
Read moreDoes GBTC have a lockup period?
Since the beginning of 2020, the lockup period of GBTC shares of the Grayscale Bitcoin Trust became SEC-compliant and the lockup period was reduced by half (from 1 year to 6 months). It was one of the main factors that increased institutional interest in GBTC.
Read moreDo you have to hold GBTC for 6 months?
Due to the nature of the Grayscale Bitcoin Trust, institutional investors who buy the fund directly must hold the shares for six months before selling on the secondary market . July 17 is one of the largest days of the unlock period, with 16,240 bitcoin worth of GBTC becoming available to trade, according to Bybt.com.10 Tem 2021
Read moreHow long do you have to hold GBTC?
This will allow accredited investors who purchased shares in the Trust’s private placement to have an earlier liquidity opportunity, as the statutory holding period of private placement shares would be reduced from 12 months to 6 months , according to SEC rules.
Read moreCan I sell GBTC before 6 months?
That trust is set up as a private placement, where qualified investors can buy shares directly from Grayscale. After six months, they can sell those shares on public markets under the ticker GBTC .
Read moreWhat is Bitcoin grayscale unlock?
Grayscale Investments is preparing to “unlock” a gigantic crypto fund allowing the sale of shares worth up to 40,000 Bitcoins . The Grayscale Bitcoin Trust (GBTC) is the world’s largest crypto fund and consists of holdings amounting to 650,000 BTC.
Read moreWhy is Grayscale Bitcoin Trust trading at a discount?
The trust is managed by Grayscale Investments, which is a unit of Digital Currency Group. Why are GBTC shares trading at a discount? Owing to the reduction in demand for its products , GBTC shares have traded at a sharp discount for almost a year, i.e., the discount has rapidly grown since last February.
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