NEW YORK, May 5, 2015 /PRNewswire/ -- OTC Markets Group
Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected
financial marketplaces, today announced the Bitcoin Investment
Trust (OTCQX: GBTC), an open-ended trust that is invested
exclusively in bitcoin, has qualified to trade on OTCQX®, the best
marketplace for established, global and growth companies.
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The Bitcoin Investment Trust was approved for trading on OTCQX
on March 26 under the symbol "GBTC."
U.S. investors can find current financial disclosure and Real-Time
Level 2 quotes for the company on www.otcmarkets.com.
"We are proud to welcome the Bitcoin Investment Trust, the
nation's first publicly-traded bitcoin investment vehicle, to our
OTCQX Best Marketplace," said R. Cromwell
Coulson, President and CEO of OTC Markets Group. "OTCQX
offers informed and efficient trading for innovative companies and
financial products that have raised capital under the JOBS
Act. We look forward to supporting the Bitcoin Investment
Trust and its shareholders in its entry to the public markets."
"As the trusted authority on digital currency investing, the
Grayscale team and I are excited to provide transparent and
familiar structures to facilitate investment in digital currency.
By trading the Bitcoin Investment Trust on OTC Markets Group's best
marketplace, OTCQX, we are able to achieve this transparency and
provide bitcoin exposure to the broader investing community," said
Barry Silbert, CEO of Grayscale
Investments, the sponsor of the Bitcoin Investment Trust.
Merriman Capital, Inc. serves as Bitcoin Investment Trust's
Designated Advisor for Disclosure ("DAD") on OTCQX, responsible for
providing professional guidance on OTCQX requirements.
The Bitcoin Investment Trust is an open-ended trust that is
invested exclusively in bitcoin and derives its value solely from
the price of bitcoin. It enables investors to gain exposure to the
price movement of bitcoin without the challenge of buying, storing,
and safekeeping bitcoins. The Bitcoin Investment Trust's sponsor is
Grayscale Investments, a wholly-owned subsidiary of Digital
Currency Group.
Each GBTC share represented ownership of 0.1 bitcoins at the
fund's inception in September 2013.
The trust will not generate any income and regularly
sells/distributes bitcoins to pay for its ongoing expenses.
Therefore, the amount of bitcoin represented by each share
gradually declines over time.
About OTC Markets Group Inc.
OTC Markets Group
Inc. (OTCQX: OTCM) operates Open, Transparent and Connected
financial marketplaces for 10,000 U.S. and global
securities. Through our OTC Link® ATS, we directly link a
diverse network of broker-dealers that provide liquidity and
execution services for a wide spectrum of securities. We
organize these securities into marketplaces to inform investors of
opportunities and risks: the OTCQX® Best Marketplace; the OTCQB®
Venture Marketplace; and the OTC Pink® Open Marketplace. Our
data-driven platform enables investors to easily trade through the
broker of their choice at the best possible price and empowers a
broad range of companies to improve the quality and availability of
information for their investors. To learn more about how we
create better informed and more efficient financial marketplaces,
visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and
SEC regulated ATS.
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Media Contact:
Saskia
Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428,
saskia@otcmarkets.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/otc-markets-group-welcomes-bitcoin-investment-trust-to-otcqx-300077150.html
SOURCE OTC Markets Group Inc.