GBTC Price & NAV

When it comes to investors looking for bitcoin exposure in their portfolios, there are only a couple of options currently available.

Of course, they can open an account on a crypto exchange and buy it directly. That’s the most straightforward option, but some investors are still hesitant about the idea of crypto wallets and irretrievable passwords.

The other primary option is the Grayscale Bitcoin Trust (GBTC) (there’s also the Osprey Bitcoin Trust (OBTC), which is a lower cost, somewhat less liquid option). This is an exchange-traded product that you can buy and sell on virtually any platform, but it’s not a one-to-one proxy for bitcoin. Because it trades on an exchange, it can sell for above or below the net asset value, much in the same way that closed-end funds do. That makes it a good proxy, but not a great one.

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