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Grayscale Funds Trust (BPI)



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Upturn Advisory Summary
08/14/2025: BPI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type ETF | Historic Profit 0.21% | Avg. Invested days 25 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | ETF Returns Performance ![]() |
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Key Highlights
Volume (30-day avg) - | Beta - | 52 Weeks Range 30.53 - 41.99 | Updated Date 06/6/2025 |
52 Weeks Range 30.53 - 41.99 | Updated Date 06/6/2025 |
Upturn AI SWOT
Grayscale Funds Trust
ETF Overview
Overview
Grayscale Funds Trust offers several ETFs focusing on digital assets, providing investors exposure to cryptocurrency markets through traditional investment vehicles. It is structured as grantor trusts, holding digital assets like Bitcoin and Ethereum. The investment strategy involves holding the underlying digital assets and aiming to reflect their market price, less fees and expenses.
Reputation and Reliability
Grayscale Investments is a leading digital currency asset manager. While reputable in the crypto space, its trusts have faced challenges related to discounts to NAV.
Management Expertise
Grayscale's management team possesses expertise in digital asset management and financial services, navigating the complexities of cryptocurrency markets.
Investment Objective
Goal
To provide investors with exposure to the price movement of digital assets, such as Bitcoin or Ethereum, through a traditional investment vehicle.
Investment Approach and Strategy
Strategy: The ETFs aim to reflect the price performance of the underlying digital assets they hold, offering exposure to the cryptocurrency market without directly owning the coins.
Composition The ETFs primarily hold digital assets, like Bitcoin (GBTC) or Ethereum (ETHE), with minimal or no exposure to other asset classes.
Market Position
Market Share: Grayscale holds a significant market share, particularly in Bitcoin and Ethereum trusts, though the share has been impacted by the introduction of spot Bitcoin ETFs.
Total Net Assets (AUM): Variable based on fund and market conditions.
Competitors
Key Competitors
- IBIT
- FBTC
- ARKB
- BITB
- BRRR
Competitive Landscape
The ETF industry is highly competitive, especially in the digital asset space. Grayscale has a first-mover advantage but faces pressure from lower-fee competitors. Its primary advantage lies in its established brand and early institutional adoption. Disadvantages include higher fees relative to new spot Bitcoin ETFs.
Financial Performance
Historical Performance: Variable based on the underlying digital asset and market conditions. Highly volatile.
Benchmark Comparison: Performance is typically compared to the underlying digital asset's price, such as the Bitcoin or Ethereum price index.
Expense Ratio: Variable based on fund. GBTC is 1.5%.
Liquidity
Average Trading Volume
Average trading volume varies by ETF, with GBTC typically exhibiting high trading volume.
Bid-Ask Spread
The bid-ask spread depends on market conditions and trading volume, but it is typically reasonable for major trusts like GBTC.
Market Dynamics
Market Environment Factors
The performance is heavily influenced by cryptocurrency market sentiment, regulatory developments, and macroeconomic factors.
Growth Trajectory
Growth is tied to cryptocurrency adoption and institutional interest. Grayscale continues to adapt its product offerings in response to market demand and regulatory changes.
Moat and Competitive Advantages
Competitive Edge
Grayscale Funds Trust, particularly GBTC, had a first-mover advantage, establishing a recognizable brand and attracting early institutional capital. However, the introduction of spot Bitcoin ETFs significantly eroded that advantage due to lower fees. Its conversion of GBTC to a spot ETF sought to address its previous trading at a discount to NAV. The size of GBTC's AUM still provides some advantages in liquidity, though this is diminishing with growth of other ETFs.
Risk Analysis
Volatility
High due to the inherent volatility of cryptocurrency markets.
Market Risk
Susceptible to market risk factors affecting the cryptocurrency market, including regulatory changes, technological developments, and investor sentiment.
Investor Profile
Ideal Investor Profile
Investors seeking exposure to digital assets, particularly those familiar with the risks and potential rewards of cryptocurrency investments.
Market Risk
Suitable for investors with a high-risk tolerance and a long-term investment horizon.
Summary
Grayscale Funds Trust offers exposure to digital assets through traditional investment vehicles. It has a significant presence in the crypto ETF market, especially through GBTC. Recent performance has been affected by competition from new spot Bitcoin ETFs, and higher fees remain a challenge. It's suited for risk-tolerant investors seeking crypto exposure, but one must carefully evaluate its market conditions and competitive landscape.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Grayscale Investments website
- SEC filings
- Various financial news sources
Disclaimers:
The data provided is for informational purposes only and should not be considered financial advice. Investment decisions should be made based on individual circumstances and after consulting with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Grayscale Funds Trust
Exchange NASDAQ | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website |
The fund is an actively managed exchange-traded fund ("ETF") that seeks indirect exposure to the returns of bitcoin by investing in bitcoin ETPs, including, but not limited to the Grayscale Bitcoin Trust (Ticker: GBTC) and the Grayscale Bitcoin Mini Trust ETF (Ticker: BTC). The manager seeks to deliver this through fully synthetic exposure via the purchase and sale of a combination of call and put option contracts that utilize the Bitcoin ETPs as the reference asset. The fund is non-diversified.

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