A bright future for currency.
A bold opportunity to invest.

Market Performance

The Bitcoin Investment Trust’s (BIT) shares are the first publicly quoted* securities solely invested in and deriving value from the price of bitcoin.

The BIT enables investors to gain exposure to the price movement of bitcoin through a simple investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins.

*Publicly quoted on OTCQX® under the Alternative Reporting Standards

Symbol GBTC
CUSIP 09173T108
ISIN US09173T1088
Bloomberg XBTFUND**
Inception Date 9/25/2013
Annual Fee 2%
Asset Under Management $32.13M‡
Shares Outstanding 1,412,000‡
Bitcoin per Share 0.09604763‡
Independent Auditor: Ernst & Young LLP
Legal Counsel: Sidley Austin
Transfer Agent: Continental Stock Transfer & Trust

**Valuation represents the NAV of BIT shares
‡As of September 30, 2015

Titled auditable ownership through a traditional security structure

Invest in bitcoin through a traditional security structure with shares titled in the investors name, making it more familiar to financial and tax advisors, and easily transferred to beneficiaries under estate laws.

Eligible for tax-advantaged accounts

Shares in the BIT are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts.

Publicly quoted

Eligible shares of the BIT are quoted on OTCQX® under the symbol: GBTC, making it possible to buy or sell BIT shares continuously through the trading day at prices established by the market.

Offered through a trusted, regulated counterparty

BIT shares are marketed and distributed through SecondMarket, Inc. a US-based FINRA registered broker-dealer. The BIT was structured with guidance from Sidley Austin LLP and financial statements for the BIT are audited annually by Ernst & Young.

Robust security and storage

The BIT’s assets are stored with Xapo, Inc., as Custodian, in deep cold storage vaults. Bitcoin stored in the Xapo Vaults reside on multisignature addresses, the private keys for which are protected by intense cryptographic, physical and process security. Xapo maintains third-party insurance to cover losses due to employee dishonesty or on-premises theft of bitcoin stored in the Vaults.

Invest in the first publicly quoted bitcoin investment vehicle

The Bitcoin Investment Trust provides a secure structure to gain exposure to the price performance of bitcoin.  Eligible shares are quoted on the OTCQX®, the top marketplace operated by OTC Markets under the Alternative Reporting Standards. Investors can buy and sell shares through most traditional brokerage accounts at prices dictated by the market.

Are you an accredited investor†?

Accredited investors are eligible to purchase shares of the BIT through its ongoing primary capital raise, giving them the opportunity to purchase shares at the daily NAV.

Market/Share NAV/Share
Market Price per share*
At close as of 10/02/2015
Day Change -1.12%
NAV Price per share**
At close as of 10/02/2015
Day Change 0.26%
Returns‡ 1 Day 1 Month 3 Months YTD 12 Months Since Inception
Market Price* -1.12% -4.70% -9.72% -% -% -34.76%
NAV** 0.26% 4.29% -6.92% -25.36% -36.26% 77.56%

* Market Price per share reflects the closing price of BIT shares at 4PM ET on OTCQX® under the symbol: GBTC as of the date indicated on http://www.otcmarkets.com/stock/GBTC/quote.

** Net Asset Value (NAV) per share is calculated daily at 4pm ET, based on a 24 hour VWAP of TradeBlock’s XBX Index. If you would like to see how the NAV is calculated, please refer to the private placement memorandum.

† An Accredited Investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the two prior years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person's primary residence).

‡ At close as of 10/02/2015

BIT in the News


ARK Invest Becomes First Public Fund Manager to Invest in Bitcoin

ARK Investment Management LLC (ARK) is pleased to announce that the ARK Web x.0 ETF (NYSEARCA: ARKW) has become the first ETF to invest in bitcoin. ARK has made its investment for ARK Web x.0 ETF through the purchase of publicly traded shares of Grayscale's Bitcoin Investment Trust (OTCQX: GBTC).

PR Newswire
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