Grayscale Launches Bitcoin Adopters ETF (BCOR) on NYSE Arca

Highlights:

• Grayscale announced that it has launched a Bitcoin Adopters ETF.
• The asset manager said the new ETF with the market ticker BCOR will use NYSE Arca as its primary exchange.
• BCOR has an NAV of $25.31 per share, with about $1,012,425.31 in assets under management.

Asset management firm Grayscale has launched a Bitcoin (BTC) Adooters Exchange Traded Fund (ETF) with the market ticker BCOR. The new product will trade on America’s leading stock exchange, NYSE Arca, exposing investors to publicly traded companies that own BTC as part of their treasury.

Grayscale noted that its newly launched ETF will prioritize the corporate adoption of Bitcoin as a shield against fiat currency inflation. In addition, companies would incorporate the ETF in their risk management strategy options and corporate treasury diversification.

BCOR boasts about $1,012,425.31 in assets under management (AUM) with 40,001 outstanding shares. It will cost investors $25.31 per share and currently does not offer any premium discount.

NEW: Grayscale launches the Bitcoin Adopters ETF

It tracks companies across 7 sectors that hold $BTC on their balance sheets. pic.twitter.com/hUCCfvTGGL

— Marzell (@MarzellCrypto) May 1, 2025

Trading Details About Grayscale’s New ETF

The asset manager stated that Foreside Fund Services, LLC will distribute the funds while Grayscale Advisors, LLC will be the adviser. Aside from investing in companies that own Bitcoin or other cryptocurrencies in its treasury, Grayscale said BCOR will not directly invest in digital assets. In addition, Grayscale’s new ETF will not invest in Initial Coin Offerings (ICOs). The asset manager also noted that since the fund will not directly invest in any digital asset, it will not track the price of any cryptocurrency.

Using the Indxx Bitcoin Adopters Index asset manager, Grayscale said it plans to track companies with Bitcoin treasuries in the US and other parts of the world. The index selects the companies called “Bitcoin Adopters,” using financial documents and detailed research provided by the index provider.

Grayscale launched the Grayscale Bitcoin Adopters ETF (ticker: BCOR) on April 30, 2025, on NYSE Arca, offering exposure to publicly traded companies that hold Bitcoin as part of their corporate treasury. As of April 29, BCOR had a NAV of $25.31 per share and approximately $1.01…

— Wu Blockchain (@WuBlockchain) April 30, 2025

Risks Associated with Grayscale’s New Fund

The asset manager stated it might invest over 25% of the ETF’s fund in Bitcoin. This invariably implies that the ETF’s value might fluctuate more than the broader market. Grayscale also highlighted companies’ risks.

The investment firm stated:

“The speculative perception of bitcoin may overshadow the fundamentals of such companies, leading to exaggerated price movements based on hype or fear.”

Also, Grayscale noted that if BCOR incorporates companies in developing nations, it could put investors at increased risks stemming from unstable policies and regulations. On the other hand, international firms’ investments could result in currency fluctuations. In addition, different taxation systems and other policies could also impact investments.

Another risk associated with the fund was its lack of operational history. Grayscale explained, “The Fund is a recently organized investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision.”

Grayscale also mentioned that the poorly diversified investment strategy could pose significant risks once one or a few companies run into a crisis. Finally, the asset manager highlighted management risks from passive management. Grayscale stated that the fund only tries to replicate the index. Hence, it might not perform as well as an actively managed fund due to incurred expenses and other fees.

Grayscale Requests SEC Approval for Staking Inclusion in Ethereum ETFs

On April 28, Crypto2Community reported that Grayscale representatives met with some members of the US Securities and Exchange Commission (SEC), requesting staking permission on its Ethereum ETFs. In the meeting, Grayscale highlighted staking significance, which includes boosting Ethereum’s overall network and allowing investors to earn more profits.