Institutional · September 25, 2013
Grayscale launches the Bitcoin Investment Trust (later GBTC)
Price at event
$135
Today
$73,594
Since then
×545
On September 25, 2013, Grayscale's Bitcoin Investment Trust commenced operations as a private placement for accredited investors, becoming the first dedicated bitcoin investment vehicle of its kind in the US. It later began over-the-counter trading as GBTC in 2015 and served as the dominant institutional on-ramp for a decade, eventually converting into a spot Bitcoin ETF in January 2024 — typically trading at whatever premium or discount to NAV the mood of the day allowed.
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