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As we all know, among all funds, private equity funds are the most profitable, because their investment period and subject matter restrictions are relatively small. Generally speaking, the more powerful private equity funds can multiply by more than ten times. Pantera
Capital Bitcoin Fund has multiplied 100 times so far, and in the bull market of 2017, it multiplied more than 200 times, which is beyond the reach of traditional finance. This has also made many investors interested in Bitcoin funds. At present, the development of Bitcoin funds abroad is still very good, but it is relatively general in China. So where can I buy Bitcoin funds? Many investors want to know where to buy Bitcoin funds? Let the editor of the currency circle talk about it.

 Where can I buy Bitcoin funds?

The English name of the GBTC Bitcoin Fund is Grayscale Bitcoin
Trust. The fund is a trust fund launched by Grayscale in September 2013. It was approved by the US Financial Industry Regulatory Authority in 2015 and landed on the highest-level over-the-counter exchange OTCQX in the United States, with the trading code GBTC.

Because the price of Bitcoin is believed to be manipulable, the US SEC has not yet allowed ETFs that directly track the price of Bitcoin to be publicly listed, so Grayscale established this trust fund. Unlike traditional ETFs that can be redeemed, GBTC investors can only cash out by selling in the secondary market, so when the price of Bitcoin plummets, its selling pressure will intensify, and even fall into a negative premium.

Although it is not an ETF, GBTC is the first investment product that can be traded in the secondary market of US stocks and track the price of Bitcoin. It is also the largest Bitcoin fund at present. As of April 27, the scale is close to US$23.2 billion, and the trading volume in 2020 also ranks first in the US stock OTC market.

 How about Bitcoin Fund?

Although Grayscale applied to the US SEC to issue a Bitcoin ETF as early as 2016, it has not yet been approved by the regulatory authorities. The company said two weeks ago that it is still "100% committed" to transforming GBTC into an ETF.

It is worth noting that Gary Gensler, the chairman of the US SEC who just took office this month, is himself a cryptocurrency expert, so the market believes that Bitcoin-related policies may be loosened. In addition, with the listing of the Canadian Bitcoin ETF, it also shows that regulators have gradually realized that cryptocurrency is an investable asset class, not a scam as claimed in previous years. Therefore, investors expect that the first Bitcoin ETF will be born in the United States this year. GBTC's transformation may be worth looking forward to. Compared with directly entering the market to buy Bitcoin, the Grayscale Bitcoin Trust Fund (GBTC) saves storage problems and custody costs; for institutional investors, buying GBTC also avoids the loss of large slippage on centralized trading platforms; in addition, since Bitcoin funds such as GBTC are traditional securities, they are more compliant in terms of taxation, which can save some costs. In summary, this is the answer to the two questions of where to buy Bitcoin funds and where to buy Bitcoin funds. I hope that this article about the introduction of Bitcoin funds by the editor of the Coin Circle can help investors have a deeper understanding of the concept of Bitcoin funds. The editor of Coin Circle would like to remind all investors that whether or not you want to invest in Bitcoin funds, we must know that any investment is risky, so everyone must adjust their mentality before investing, so that no matter what the investment results are, we can accept it more calmly and make progress in each investment.