{"id":35641,"date":"2021-01-31T14:24:28","date_gmt":"2021-01-31T12:24:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35641"},"modified":"2025-08-29T02:16:46","modified_gmt":"2025-08-28T23:16:46","slug":"blockfi-to-launch-a-competitor-to-grayscales-bitcoin-trust","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blockfi-to-launch-a-competitor-to-grayscales-bitcoin-trust\/","title":{"rendered":"BlockFi to Launch a Competitor to Grayscale&#8217;s Bitcoin Trust"},"content":{"rendered":"<p>The crypto-lending platform BlockFi has filed with the U.S. Securities and Exchange Commission (SEC) <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1842696\/000095010321001273\/xslFormDX01\/primary_doc.xml\" target=\"_blank\" rel=\"noopener noreferrer\">\u0437\u0430\u044f\u0432\u043a\u0443<\/a> on the launch of the investment fund Bitcoin Trust.<!--more--><\/p>\n<p>If approved by the regulator, the trust would become a competitor to Grayscale Investments&#8217; best-known such product. Such funds allow investors to gain exposure to bitcoin without directly purchasing the digital asset.<\/p>\n<p>Earlier BlockFi <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-buys-5-07-of-grayscale-bitcoin-trust-shares-for-328-million\">acquired<\/a> for clients about 5% of the shares of Grayscale Bitcoin Trust, which as of the end of January <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-bitcoin-trust-pulls-in-a-record-1-2-billion-in-a-week\">had accumulated more than 600,000 BTC<\/a> worth over $20 billion.<\/p>\n<p>According to Block Research, in 2020 BlockFi generated revenue of nearly $100 million with gross profit of around 30%. The platform manages client assets of about $8 billion.<\/p>\n<p>In February last year, BlockFi raised $30 million in a Series B round led by Valar Ventures, Peter Thiel&#8217;s firm.<\/p>\n<p>In August the company <a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-a-crypto-lending-service-raises-50-million-from-morgan-creek-digital-and-the-winklevoss-twins\">closed a Series C financing round for $50 million<\/a> with Morgan Creek Digital leading.<\/p>\n<p>Follow Forklog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto-lending platform BlockFi filed with the U.S. Securities and Exchange Commission (SEC) an application to launch the Bitcoin Trust investment fund.<\/p>\n","protected":false},"author":1,"featured_media":35642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1436,1156],"class_list":["post-35641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockfi","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35641"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35641\/revisions"}],"predecessor-version":[{"id":35643,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35641\/revisions\/35643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35642"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}