NEW YORK, Nov. 27, 2015 /PRNewswire/ -- Grayscale Investments, LLC, the Sponsor of Bitcoin Investment Trust (the "Company") (OTCQX: GBTC), has engaged Friedman LLP ("Friedman") to be the Company's independent registered public accounting firm for fiscal year 2015. Friedman will be replacing the Company's previous independent auditor, Ernst & Young LLP ("EY"). The transition will be effective on November 27, 2015. The Company's change in auditor is not the result of any disagreement between the Company and EY on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure. EY did not resign or decline to stand for re-election, and none of EY's reports on the financial statements of the Company contained an adverse opinion or disclaimer of opinion, or was modified as to uncertainty, audit scope or accounting principles. The appointment of Friedman was approved by the board of directors of Digital Currency Group, Inc., the sole owner and parent company of the Company's sponsor, Grayscale Investments, LLC.
Founded in 2013, Grayscale is a wholly-owned subsidiary of Digital Currency Group, Inc., which builds, incubates and seeds bitcoin and blockchain technology-related companies. The trusted authority on digital currency investing, Grayscale provides unparalleled market insight and investment exposure to the developing digital currency asset class. Grayscale's cornerstone product, the Bitcoin Investment Trust, provides titled, auditable bitcoin exposure through a traditional security structure. The Bitcoin Investment Trust's shares are the first publicly-quoted securities solely invest in, and deriving value from, the price of bitcoin (symbol: GBTC).
Grayscale is headquartered in New York City. – www.grayscale.co