Crypto asset manager Valkyrie Investments wants to sponsor and manage the Grayscale Bitcoin Trust (GBTC).
GBTC, the world’s largest Bitcoin fund, is currently trading at a record low price.
Valkyrie Investments Claims GBTC
The asset manager noted in a blog post published this week that he would like to sponsor and manage GBTC.
Valkyrie, one of Grayscale’s competitors, launched a Bitcoin trust and a Bitcoin-related ETF in 2021.
The Tennessee-based company has announced its plan to sponsor GBTC, the world’s largest Bitcoin fund.
Valkyrie’s plan seems difficult considering GBTC alone has over $10 billion in assets and Valkiyrie manages roughly $180 million in assets.
The company used the following statements in its statement: