[2015-05-10] Shares Of Bitcoin Investment Trust Surge After Much Anticipated Deb

[LiteCoinGuy]

Shares Of Bitcoin Investment Trust Surge After Much Anticipated Debut

Bitcoins can now be traded on the public markets. After a long wait, Grayscale Investment’s Bitcoin Investment Trust (BIT) received formal approval on March 26 and began trading in May with the ticker GBTC.

Over the last few days the price of BIT surged, and at one point traded at US$133.70 per share.

http://cointelegraph.com/news/114209/shares-of-bitcoin-investment-trust-surge-after-much-anticipated-debut

[odolvlobo]

I wouldn't read too much into those numbers. Here is what the fund's site says:

GBTC shares been approved for public quotation on OTCQX®,  the  top  marketplace  operated  by  OTC Markets,  however,  trading  has  not  yet  commenced and  no  assurances  can  be  given  as  to  whether  an active  public  secondary  market  for  the  shares  will develop or be maintained.  All performance and fund information   contained   herein   reflects   the   BIT’s ongoing private placement of restricted shares.

[Foxpup]

I wouldn't read too much into those numbers. Here is what the fund's site says:

That link is two months old. As you can clearly see on the exchange itself, trading has indeed yet commenced.