Analysts at Wedbush, the West Coast brokerage and investment bank, are embracing the Bitcoin Investment Trust (GBTC).

The instrument, which is quoted on the OTCQX over-the-counter market, is the first and only means to buy and sell bitcoin with a standard brokerage account in the U.S. It's structured as an open-ended trust, and the price of the trust is meant to represent 1/10 of bitcoin's price. GBTC has been trading a premium since May.The Wall Street Journal last week highlighted some of the early hiccups associated with...