Last Update 7/14/2021 | 6 min. read
In 2013, Grayscale launched the first publicly traded-Bitcoin fund in the U.S., Grayscale Bitcoin Trust (GBTC), which pioneered the model of providing investors with exposure to digital currencies in the form of a security without the challenges of buying, storing, and safekeeping these assets directly.
Since 2013, the digital currency market has expanded significantly, and regulations have evolved alongside the market’s growth. Key milestones have helped create more regulatory clarity in the market — including in early 2020, when Grayscale uplisted Grayscale Bitcoin Trust into an SEC-reporting company — the world’s first company to achieve this milestone with a Bitcoin fund.
Uplisting our products to SEC-reporting companies is an important step, as it offers a wider group of investors the opportunity to access digital currencies through a traditional investment vehicle as well as signaling that regulators are actively engaging with market participants. In fact, it’s such an important step that we built it into our business model for all of our existing products:
Here are the most important things you need to know about Grayscale products that are SEC reporting companies:
Ultimately, our goal at Grayscale is to provide the investment community with a higher level of disclosure and reporting on top of the already stringent obligations to which our products adhere. We believe this level of transparency is what investors want, and what we believe they deserve, so we will continually work to ensure that Grayscale’s investment products continue to open up new and important access opportunities for investors.
Disclaimer
This blog post is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
This blog post contains “forward-looking statements” with respect to the future performance and business of GBTC. Statements preceded by, followed by or that include words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of these terms and other similar expressions are intended to identify some of the forward-looking statements. All statements (other than statements of historical fact) included in this post that address activities, events or developments that will or may occur in the future, including such matters as changes in market prices and conditions, GBTC’s operations, the plans of Grayscale Investments and references to GBTC’s future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. These statements are based upon certain assumptions and analyses Grayscale Investments has made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to Grayscale Investments’ expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to, those described in “Item 1A. Risk Factors” in GBTC’s Annual Report on Form 10-K. Forward-looking statements are made based on Grayscale Investments’ beliefs, estimates and opinions on the date the statements are made and neither GBTC or Grayscale Investments is under a duty or undertakes an obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, other than as required by applicable laws. Investors are therefore cautioned against relying on forward-looking statements.