Grayscale Basic Attention Token Trust Overview
Pro stress-test →Grayscale Basic Attention Token Trust is a statutory trust that provides investors a cost-effective and convenient way to invest in BAT tokens, while avoiding the complication of directly holding BAT. The trust trades on OTC markets under ticker GBAT with a 2.50% total expense ratio.
Strategic Profile
Pro stress-test →The Trust is a passive entity that reflects the value of BAT held by the Trust, less the Trust's expenses and other liabilities. As of May 2026, the trust held approximately $2.4M in assets under management with 2.8M shares outstanding and a NAV per share of $0.86. The trust provides regulated exposure to Basic Attention Token, a cryptocurrency used in the Brave browser ecosystem.
Competitive Landscape
Pro stress-test →Grayscale competes with other crypto asset managers offering exposure to alternative tokens through regulated investment vehicles. The trust is solely and passively invested in BAT, meaning it does not offer diversified crypto exposure. Competitors include other single-asset crypto trusts and digital asset ETFs that track broader cryptocurrency indices. The regulatory environment for crypto investment vehicles remains nascent, with limited direct competitors offering BAT-specific exposure through public markets.
Industry Context
Grayscale Basic Attention Token Trust operates in Crypto asset trusts and investment vehicles.
Key facts
Founded: 2021 · Headquarters: New York, US · Market cap: $2.2M