OTC Markets Group Welcomes Bitcoin Investment Trust to OTCQX

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.

Logo - http://photos.prnewswire.com/prnh/20110118/MM31963LOGO

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.

Subscribe to the OTC Markets RSS Feed

Media Contact:Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, [email protected]

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.