Grayscale Bitcoin Trust ETF
GBTC
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
•
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
- Barry Edward Silbert
- Sector
- Financial Services
- Industry
- Asset Management - Cryptocurrency
- Address
- 636 Avenue Of The Americas New York City NY United States of America 10011
- IPO Date
- May 11, 2015
- CIK
- 0001588489
- Website
- grayscale.co
- Similar Companies
- Business
- Grayscale Bitcoin Trust ETF (GBTC) is a spot exchange-traded fund solely and passively invested in Bitcoin, enabling investors to gain exposure to the price performance of Bitcoin, a digital asset created and transmitted through the peer-to-peer Bitcoin Network, without the challenges of directly buying, storing, or safekeeping the cryptocurrency; its shares reflect the value of Bitcoin held by the Trust, less the Trust's expenses and liabilities, as determined by reference to the CoinDesk Bitcoin Price Index (XBX). Sponsored by Grayscale Investments Sponsors, LLC, a subsidiary of Digital Currency Group, the Trust offers institutional-grade custody through Coinbase Custody Trust Company, LLC, fund administration via BNY Mellon, and trades on NYSE Arca under the ticker GBTC with a total expense ratio of 1.50%. Founded in 2013 and headquartered in Stamford, Connecticut, GBTC was the first publicly traded Bitcoin investment product in the U.S., initially launching as a private trust for accredited investors before converting to a spot ETF on January 11, 2024, following a landmark legal victory against the SEC that paved the way for spot Bitcoin ETFs. In October 2025, the Trust updated its prime broker agreement with Coinbase, Inc., and Coinbase Custody Trust Company, LLC, replacing the prior arrangement from December 2023 to enhance custodial and prime brokerage services for its Bitcoin holdings; concurrently, it renewed its fund administration and accounting agreement with BNY Mellon Asset Servicing, effective October 9, 2025, superseding the February 2024 contract to bolster operational scalability and resiliency. The Trust also appointed Simon Koster to its board of directors on October 13, 2025, following the resignation of Matthew Kummell, strengthening governance with Koster's experience across Grayscale-affiliated entities like Foundry and Luno. These changes reflect GBTC's ongoing evolution amid competitive pressures in the spot Bitcoin ETF market, where it maintains significant assets under management of approximately $14.6 billion as of December 2025, targeting institutional investors, wealth managers, and retail participants seeking regulated Bitcoin exposure through traditional brokerage accounts.