Bitcoin-linked vehicle surges as cryptocurrency eyes fresh record high

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Shares of the Grayscale Bitcoin Trust
GBTC,
-2.57%
surged 3.2% Thursday as the price of the cryptocurrency
BTCUSD,
-0.23%
moved higher. Grayscale’s fund is the closest investors can get to making trading bets on Bitcoin, since regulators have declined to allow the currency itself to be packaged into an ETF. GBTC tracks price movements in the digital currency, which has recently made a run at a fresh record. Among other things, Bitcoin’s popularity increases along with easy-money policies in traditional money markets. Its all-time high was close to $20,000 three years ago. In the year to date, GBTC has gained nearly 120%.

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