NEW YORK, Aug. 2, 2017 /PRNewswire/ -- Grayscale Investments, LLC, the sponsor (the "Sponsor") of the Bitcoin Investment Trust (the "Trust") (OTCQX:GBTC), announced that a fork in the Bitcoin blockchain occurred yesterday, August 1, 2017. The Sponsor is monitoring events relating to the fork and the Bitcoin Cash resulting from the fork. A record date has not been established for the purposes of any distribution that may be made in connection with Bitcoin Cash. The Sponsor will announce a record date, if any, once established.
The Sponsor can offer no assurance as to whether or when any distribution relating to Bitcoin Cash may occur. Any such distribution may be delayed or prevented due to technical, regulatory, commercial or other considerations, including security concerns. The amount of any potential distribution will be made only after allowing time for evaluation of the market for Bitcoin Cash and consideration of the manner in which to liquidate such Bitcoin Cash, which may be months after the date of this release. It is anticipated that any potential distribution would be net of expenses of the Sponsor and the Trust, including costs associated with liquidation and distribution.
The Sponsor continues to evaluate all options open to the Trust with respect to Bitcoin Cash, and these plans are subject to change.
About Grayscale Investments, LLC
Founded in 2013, Grayscale Investments, LLC is a wholly-owned subsidiary of Digital Currency Group, Inc., which builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital. A trusted authority on digital currency investing, Grayscale Investments, LLC provides market insight and investment exposure to the developing digital currency asset class.
Grayscale Investments, LLC is headquartered in New York City.
SOURCE Grayscale Investments, LLC