Grayscale Bitcoin Trust (Btc)
grayscale.coGrayscale Bitcoin Trust (NYSE Arca: GBTC) is a digital asset investment trust that holds Bitcoin on behalf of shareholders, providing exposure to Bitcoin's price performance without requiring investors to directly custody the asset. The Trust generates revenue through a sponsor fee charged as a percentage of assets under management, accrued daily and paid to the sponsor, Grayscale Investments Sponsors, LLC. GBTC is structured as a passive investment vehicle, meaning it does not actively trade Bitcoin or pursue investment strategies beyond holding the asset. The Trust is registered under the Securities Exchange Act of 1934 and files annual reports with the SEC. As a spot Bitcoin ETP, it competes directly with other Bitcoin exchange-traded products for investor allocations seeking regulated, custodied Bitcoin exposure.
Products & Services
Spot Bitcoin exchange-traded product (ETP); shares representing fractional ownership of Bitcoin held in custody.
Revenue Model
The Trust charges a sponsor fee calculated as a percentage of assets under management, accrued daily. This fee is the sole revenue mechanism for the sponsor; the Trust itself does not generate operating income for shareholders.
Customers & Markets
Institutional and retail investors seeking regulated, exchange-listed exposure to Bitcoin price performance without direct custody responsibilities.
Source: SEC 10-K, filed 2026-02-25
Financial Snapshot
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