Grayscale Bitcoin Trust resumes private placement – Grayscale Bitcoin Trust (BTC) (:GBTC…

Grayscale Bitcoin Trust’s (GBTC) sponsor, Grayscale Investments, will resume private placement of the trust’s shares.

The trust’s investment objective is for the value of its shares to reflect the price performance of bitcoin, less fees and expenses.

The trust is solely and passively invested in bitcoin and was created for investors seeking exposure to bitcoin through a traditional investment vehicle.

As of Oct. 8, 2019, the trust has more than $1.96B in assets under management and each share of the Trust represents 0.00097384 bitcoin.

After a year holding period, shareholders who invest in the private placement may elect to sell their shares at prices dictated by the market.  Because the trust doesn’t currently operate a redemption program, there can be no assurance that the value of shares will approximate the value of bitcoin held by the trust when traded on a secondary market.