Bitcoin-ETF Frenzy Heats Up With Grayscale Deal, Ticker Change
- Largest Bitcoin trust now equity owner in ETF firm ClearShares
- ETF firm changing ticker of bond fund to BTC, raising eyebrows
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Grayscale Investments LLC, the company behind the world’s biggest cryptocurrency trust, has purchased a stake in a little-known ETF provider days after reiterating a desire to convert its fund into one.
The target of its investment, ClearShares, simultaneously announced the step of changing the ticker symbol for its $32 million ClearShares Piton Intermediate Fixed Income exchange-traded fund from “PIFI” to “BTC,” the three-letter shorthand almost everybody in crypto uses for Bitcoin.