Is Grayscale Bitcoin Trust (GBTC) Ready To Resume Another Rally?

Nowadays there is a lot of cryptocurrencies among people due to the continued rally in these digital assets.

Is Grayscale Bitcoin Trust (GBTC) Ready To Resume Another Rally?

Nowadays, one of the easiest ways of being invested in cryptocurrencies like Bitcoin without going through crypto exchanges is to invest in ETFs like the Grayscale Bitcoin Trust (BTC) (OTCMKTS: GBTC). In other words, investors can get exposure to Bitcoin, the world’s biggest cryptocurrency by market cap, through the traditional stock market.

The Grayscale Bitcoin Trust is akin to a fund and is involved in purchasing Bitcoin. That is the underlying asset in the fund. Its shares are available on the stock market and can be traded by investors. If one buys shares in the Grayscale Bitcoin Trust then he is effectively invested in Bitcoin. As the price of Bitcoin rises, so does the value of the fund and that can often have a positive effect on the price of the Grayscale Bitcoin Trust stock.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.