Bitcoin Investment Trust

GRAYSCALE Grayscale Bitcoin Investment Trust| Why Digital Currency| Resources| About Grayscale Investments| Contact| For Advisors| A bright future for currency. A bold opportunity to invest. For Investors For Financial Advisors Overview Market Performance Resources The Bitcoin Investment Trusts shares are the first publicly quoted* securities solely invested in and deriving value from the price of bitcoin. The BIT enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins. *Publicly quoted on OTCQX® under the Alternative Reporting Standards Symbol GBTC CUSIP 09173T108 ISIN US09173T1088 Bloomberg XBTFUND** Inception Date 9/25/2013 Annual Fee 2% Asset Under Management $95.36M Shares Outstanding 1,763,800 Bitcoin per Share 0.09429543 Independent Auditor: Friedman LLP Legal Counsel: Davis Polk Wardwell LLP Transfer Agent: Continental Stock Transfer Trust **Valuation represents the NAV of BIT shares As of August 31, 2016 Titled auditable ownership through a traditional investment vehicle Invest in bitcoin through a traditional investment vehicle with shares titled in the investors name, making it more familiar to financial and tax advisors, and easily transferred to beneficiaries under estate laws. Eligible for tax-advantaged accounts Shares of the Bitcoin Investment Trust are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts. Publicly quoted Eligible shares of the Bitcoin Investment Trust are quoted on OTCQX® under the symbol: GBTC, making it possible to buy or sell shares continuously through the trading day at prices established by the market. Offered through a trusted, regulated counterparty Bitcoin Investment Trust shares are marketed and distributed through Genesis Global Trading, Inc. a US-based FINRA registered broker-dealer. The Bitcoin Investment Trust was structured with guidance from Sidley Austin LLP and financial statements for the Bitcoin Investment Trust are audited annually by Friedman LLP. Robust security and storage The Bitcoin Investment Trusts assets are stored with Xapo, Inc., as Custodian, in deep cold storage vaults. Bitcoin stored in the Xapo Vaults reside on multisignature addresses, the private keys for which are protected by intense cryptographic, physical and process security. Invest in the first publicly quoted bitcoin investment vehicle The Bitcoin Investment Trust provides a secure structure to gain exposure to the price performance of bitcoin. Eligible shares are quoted on the OTCQX®, the top marketplace operated by OTC Markets under the Alternative Reporting Standards. Investors can buy and sell shares through most traditional brokerage accounts at prices dictated by the market. Are you an accredited investor? Accredited investors are eligible to purchase shares of the BIT through its ongoing primary capital raise, giving them the opportunity to purchase shares at the daily NAV. Market/Share NAV/Share Market Price per share* At close as of 09/16/2016 $87.02 Day Change -0.55% NAV Price per share** At close as of 09/16/2016 $57.16 Day Change -0.23% Returns 1 Day 1 Month 3 Months YTD 12 Months Since Inception Market Price* -0.55% -12.97% -32.54% 38.13% 200.07% -% NAV** -0.23% 6.11% -18.14% 40.62% 159.35% 343.79% * Market Price per share reflects the closing price of BIT shares at 4PM ET on OTCQX® under the symbol: GBTC as of the date indicated on http://www.otcmarkets.com/stock/GBTC/quote. ** Net Asset Value (NAV) per share is calculated daily at 4pm ET, based on a 24 hour VWAP of TradeBlocks XBX Index. If you would like to see how the NAV is calculated, please refer to the private placement memorandum. An Accredited Investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the two prior years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person's primary residence). At close as of 09/16/2016 Downloads Bitcoin Investment Trust Fact Sheet Bitcoin Investment Trust Investor Deck Bitcoin Investment Trust Information Disclosure Statement Bitcoin Investment Trust Tax Information 2015 BIT in the News 10.30.15 Bitcoin Investment Trust Surges as BTC Price Soars to Yearly High Following the recent spike in bitcoin trading volume and price, shares of Grayscale's Investments Bitcoin Investment Trust (symbol: GBTC) surged to US$32 per share, marking a 10.92% increase over the past few days... CoinTelegraph 09.15.15 ARK Invest Becomes First Public Fund Manager to Invest in Bitcoin ARK Investment Management LLC (ARK) is pleased to announce that the ARK Web x.0 ETF (NYSEARCA: ARKW) has become the first ETF to invest in bitcoin. ARK has made its investment for ARK Web x.0 ETF through the purchase of publicly traded shares of Grayscale's Bitcoin Investment Trust (OTCQX: GBTC). PR Newswire 04.11.14 Barry Silbert Reveals Bitcoin Investment Trust Holds 100,000 Bitcoins The Bitcoin Investment Trust (BIT) now holds more than 100,000 BTC, according to Barry Silbert, CEO of SecondMarket and founder of the trust. Silbert has big plans for the Bitcoin Investment Trust, which is expected... CoinDesk Get started investing in the BIT For Investors For Advisors Bitcoin Investment Trust Why Digital Currency Resources About Grayscale Investments Contact FAQ Subscribe to our Newsletter © 2016 GRAYSCALE INVESTMENTS LLC Terms of Service / Privacy Policy Disclaimer The Bitcoin Investment Trust represents a speculative investment and involves a high degree of risk. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment. Any offering or solicitation will be made only to qualified accredited investors pursuant to a formal offering with additional documentation, all of which should be read in their entirety. Information provided about the Bitcoin Investment Trust (the "BIT") is not intended to be, nor should it be construed or used as investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest in the BIT. Any offer or solicitation of an investment in the BIT may be made only by delivery of the BIT's confidential offering documents to qualified accredited investors. You should rely solely on such offering documents in making any investment decision. An investment in the BIT is not suitable for all investors. The BIT is a private, unregistered investment vehicle and is NOT subject to the same regulatory requirements as SEC-registered exchange traded funds or similar investment vehicles. The BIT is not registered with the SEC and the BITs shares are being offered in a private placement pursuant to Rule 506(c) under Regulation D. As a result, the BITs shares are restricted and subject to significant limitations on resales or transfer. Potential investors should carefully consider the long term nature of an investment in the BIT prior to making an investment decision. The BITs shares are publicly quoted on OTCQX® market under OTC Markets Alternative Reporting Standards, which do not require the same level of public disclosure as the Securities Exchange Act of 1934 standards applicable to SEC-registered investment vehicles. You should note carefully the following: The BIT represents a speculative investment and involves a high degree of risk. An investor could lose all or a substantial portion of his/her investment. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment in the BIT. An investment in the BIT should be discretionary capital set aside strictly for speculative purposes. An investment in the BIT is not suitable or desirable for all investors. Only qualified accredited investors may invest in the BIT. The BIT's offering documents have not been reviewed or approved by federal or state regulators. An investment in the BIT will be illiquid and there may be significant restrictions on transferring interests in the BIT. The BITs shares are traded on an unregistered basis on the OTCQX® market, but trading may be extremely limited. The BIT has limited operating history or performance. The BIT's sponsor has total authority over the BIT and shareholders' rights are extremely limited. The BIT and its managers or advisors may rely on the trading expertise and experience of third-party managers or advisors, the identity of which may not be fully disclosed to investors. The BIT may involve a complex tax structure, which should be reviewed carefully, and may involve structures or strategies that may cause delays in important tax information being sent to investors. The BIT's fees and expenses-which may be substantial regardless of any positive return- will offset the BIT's trading profits. The BIT and its managers/advisors may be subject to various conflicts of interest. The above summary is not a complete list of the risks and other important disclosures involved in investing in the BIT and is subject to the more complete disclosures contained in the BIT's confidential offering documents, which must be reviewed carefully.