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Could you clarify whether the Grayscale Bitcoin Trust is indeed classified as a spot bitcoin fund? As a professional in the <a href="https://www.btcc.com/en-US" title="cryptocurrency">cryptocurrency</a> and finance industry, I'm interested in understanding the precise nature of this investment vehicle. Does it directly purchase and hold bitcoins, or does it employ a derivative strategy? Understanding the distinction between spot and derivative funds is crucial for investors making informed decisions in this rapidly evolving market. Clarifying this matter would greatly assist in assessing the risk-reward profile of the Grayscale Bitcoin Trust.
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