Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Grayscale Investments has announced plans to launch a new financial product, the Grayscale Bitcoin Mini Trust (BTC), aiming to offer investors a lower-fee alternative for Bitcoin exposure. This initiative involves a spin-off from its existing Grayscale Bitcoin Trust (GBTC), allowing GBTC holders to transition into the new mini trust without incurring a capital gains tax event. The move, pending approval from the U.S. Securities and Exchange Commission (SEC), is expected to provide a lower blended fee, although the exact fee has not been disclosed yet. The proposed Bitcoin Mini Trust, which will trade under the ticker symbol "BTC", is expected to have competitive fees compared to existing Bitcoin ETFs and will be seeded partly by transferring a percentage of GBTC shares. The company intends to list the shares of the new trust on the NYSE Arca.
⚠️ GRAYSCALE PURSUES SPIN-OFF OF SPOT BITCOIN ETF Full Story → https://t.co/A4FemIybG2 Digital asset manager Grayscale Investments said on Tuesday it was contemplating a spin-off of its spot bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust (GBTC), which has… https://t.co/I8cpAG2Cpx
JUST IN: Grayscale files for a #Bitcoin Mini Trust with the ticker $BTC This product would provide #Bitcoin exposure at a lower cost than their $64 GBTC ETF shares 👀 https://t.co/1K9AzoGlp4
Grayscale is seeking approval from the SEC to introduce the Grayscale Bitcoin Mini Trust, seeded by a percentage of GBTC shares. The Grayscale Bitcoin Mini Trust (BTC) will have lower fees and moving over from GBTC will not trigger a capital gains tax event.…
