Bitcoin Investment Trust Surges as BTC Price Soars to Yearly High

Following the recent spike in bitcoin trading volume and price, shares of Grayscale Investment’s Bitcoin Investment Trust (BIT) surged to US$32 per share, marking a 10.92% increase over the past few days as well as an almost ten times increase in volume.
BIT, the publicly tradable shares of bitcoin operating under the ticker GBTC, was launched back in March and represents approximately one tenth of a bitcoin. As of today, bitcoins in the Bitcoin Investment Trust are being sold at US$320 per BTC.
Currently, bitcoins are being traded at US$330 per bitcoin across international exchanges including Bitstamp and Bitfinex, with Chinese investors seemingly driving the bullish trend by sheer volume as many are purchasing bitcoins at around US$360 per BTC on average.

This post was published at Coin Telegraph on 2015-10-30.