A Key Bitcoin Investment Faces Activist Pressure

, an ETF-like security that has drawn more than $34 billion in assets, now trades at a discount to the underlying Bitcoin it holds.

The Grayscale trust, created in 2013, took off as the most direct way for investors to get Bitcoin exposure into their traditional portfolios.

That is likely because competitors have begun to launch rival products, and there are now Bitcoin ETFs, including two in Canada.

Grayscale is looking to convert GBTC into an ETF, a move that would presumably eliminate the discount.

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