EddieJayonCrypto
13 Mar 24
The financial giant behind the Grayscale Bitcoin Trust (GBTC) is filing a new BTC product with the U.S. Securities and Exchange Commission. The "Grayscale Bitcoin Mini Trust" aims to allow fractionalized ownership with lower fees and will trade under the "$BTC" ticker. Existing GBTC holders will hav...
The financial giant behind the Grayscale Bitcoin Trust (GBTC) is filing a new BTC product with the U.S. Securities and Exchange Commission. The "Grayscale Bitcoin Mini Trust" aims to allow fractionalized ownership with lower fees and will trade under the "$BTC" ticker. Existing GBTC holders will have a portion of their holdings spun off into the new Grayscale Mini Trust, which is expected to be a non-taxable event for shareholders.
This move is seen as a middle ground to help customers and not decimate revenue, with more details on percentages and fees still to be revealed. According to a new filing with the U.S. Securities and Exchange Commission, Grayscale is attempting to register a “Grayscale Bitcoin Mini Trust,” a spin-off of GBTC. This new product aims to allow investors to hold units of fractionalized ownership in the trust, and will reportedly have lower than usual fees, though a specific fee structure has not been revealed. Existing holders of GBTC will have a portion of their holdings spun off into the new Grayscale Mini Trust, which will trade under the “$BTC” ticker. This new development is expected to have a competitive fee and is seen as a nice middle ground between helping out customers and not decimating their revenue. More details on percentages and fees are yet to be disclosed.
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