Grayscale Basic Attention Token Trust
GBAT
Other OTC- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Michael Adam Sonnenshein
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Stamford DE United States of America
- IPO Date
- May 27, 2022
- CIK
- 0001852040
- Website
- grayscale.com
- Similar Companies
- Business
- Grayscale Basic Attention Token Trust (GBAT) is a single-asset investment trust that provides investors with exposure to Basic Attention Token (BAT), the native cryptocurrency of the Brave browser ecosystem, without the challenges of directly buying, storing, and safekeeping the digital asset. The Trust holds BAT and seeks to reflect its value, less the Trust's expenses and liabilities, through shares traded on OTC Markets; it reports assets under management of approximately $7.1 million, a net asset value per share of $2.49, and 8.88 BAT per share as of late 2025, with a total expense ratio of 2.50%. Shares, which became publicly tradable after an initial one-year restriction period for private placement investors, are quoted under the ticker GBAT (CUSIP: 38963U108; Bloomberg ID: GBAT) and track the CoinDesk Basic Attention Token Price Index (BTX), a USD-denominated reference rate derived from multiple trading platforms. Founded on February 26, 2021, by Grayscale Investments, LLC—a subsidiary of Digital Currency Group headquartered in Stamford, Connecticut—the Trust launched publicly on May 27, 2022, as one of Grayscale's specialized digital asset products alongside offerings like Bitcoin and Ethereum trusts. Grayscale Investments, established in 2013, operates as the world's largest digital asset-focused investment platform with over $35 billion in assets under management across more than three dozen products, targeting institutional and accredited investors seeking passive exposure to cryptocurrencies. In recent developments, the Trust qualified for and began trading on the OTCQX Best Market in December 2024, enhancing liquidity and accessibility for U.S. and international investors under OTC Markets Group's regulated framework. Grayscale acquired over 2.19 million BAT tokens worth approximately $492,000 for the Trust in January 2025, ending a five-month hiatus in holdings accumulation, while an additional 2.89 million BAT flowed from Flow Traders in October 2024. Amid Grayscale's broader strategic expansions—including management team and board enhancements in August 2025 with traditional finance executives and founder Barry Silbert's return as Chairman, plus reverse share splits for other trusts and new ETF launches—the Trust maintains its passive BAT-focused structure with no distributions.