Grayscale Bitcoin Trust (GBTC) is an investment product that allows investors to gain exposure to [[Bitcoin]] without directly buying, holding, or managing the cryptocurrency themselves. It's essentially a trust that holds a large amount of Bitcoin, and investors can buy shares of this trust on the stock market. Created by Grayscale Investments in 2013, GBTC was the first publicly traded Bitcoin investment vehicle in the U.S. and it trades on the OTCQX market under the ticker symbol GBTC. While it provides a way for investors to access Bitcoin through a more familiar investment structure, it's important to note that GBTC can trade at a premium or discount to the actual price of Bitcoin, and it also has a management fee.