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Unpacking misconceptions about Grayscale's investment trusts

Jun 11, 2020 ⋅  6 min read

Launched September 2013, Grayscale’s Bitcoin Investment Trust is one of the oldest Bitcoin investment products in the industry. Yet, despite its nearly seven years of operations it is still not widely understood. This misunderstanding has not only caused absurd mispricings of its trusts, but has also caused flawed analysis of its significance as a purchaser of cryptocurrencies. A deep dive into the underbelly of Grayscale's trusts.

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Ryan Watkins was a Senior Research Analyst at Messari. Previously, he worked at Moelis & Company as an Investment Banking Analyst where he worked on deals in the technology, telecom, and fintech sectors. Ryan graduated Magna Cum Laude from the Gabelli School of Business at Fordham University.

About the author

Ryan Watkins was a Senior Research Analyst at Messari. Previously, he worked at Moelis & Company as an Investment Banking Analyst where he worked on deals in the technology, telecom, and fintech sectors. Ryan graduated Magna Cum Laude from the Gabelli School of Business at Fordham University.