Grayscale Bitcoin Trust to switch Bitcoin benchmark to CoinDesk Bitcoin Benchmark Rate on Apr 1

Grayscale Bitcoin Trust ETF

Effective April 1, 2026, GBTC will value Bitcoin using CoinDesk Bitcoin Benchmark Rate, replacing CoinDesk Bitcoin Price Index (XBX).
New benchmark uses data from 11 exchanges: Binance, Bitstamp, Bullish, Bybit, Crypto.com, Gate, Gemini, HashKey, Kraken, LMAX Digital, OKX.
Methodology includes volume weighting, outlier detection, inactivity adjustment, and manipulation resistance to mitigate fraud.
If primary index is unavailable, cascading rules fall back to Coin Metrics Real-Time Rate, then principal market price, then Sponsor's estimate.
The change is operational only; no immediate impact on Bitcoin holdings or share structure.

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