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Grayscale, world’s biggest bitcoin fund, says it faces ‘unfair’ hurdle in ETF plan
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The world's largest bitcoin fund is trading at 73 cents on the dollar. That may look like a bargain if you want crypto in your portfolio. But nothing is really free on Wall Street, including a cut-rate deal on bitcoin.
Holding $26.2bn in assets, the Grayscale Bitcoin Trust owns more of the cryptocurrency than any other fund. A private-placement trust that trades like a stock, GBT has become a popular vehicle to access bitcoin in equity form. Institutional investors like Morgan Stanley and ARK Invest hold it in funds for clients....
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