Wedbush Letter to U.S. Securities and Exchange Commission
Considering the recent evolution of the Bitcoin Investment Trust on the OTC Market, we believe it is in the best interest of our clients and the investing public that desire exposure to bitcoin to have access to an ETF trading at NAV rather than through the premium prices at which GBTC currently trades. We have decided to take an active stance in urging the Commission to consider these comments when evaluating the Bitcoin Investment Trust's approval to move to the NYSE ARCA.
Renewed Interest by Large Financial Institutions and Media
Renewed Interest by Large Financial Institutions and Media; Reiterating OUTPERFORM and Raising BTC Price Target to $600
Fuel for Promising Technology in Early Days of Disruption
We believe bitcoin and its associated blockchain technology have the potential to disrupt the existing financial infrastructure over the next few years. We believe the value of the bitcoin currency (BTC) will benefit from this trend and therefore are initiating coverage of GBTC with an OUTPERFORM rating and $40 price target.
