Grayscale plans to launch a lower-fee Bitcoin fund, the Grayscale Bitcoin Mini Trust, seeded with GBTC holdings.

Grayscale plans to launch a spin-off of its flagship Grayscale Bitcoin Trust (GBTC) in an effort to offer investors lower-fee exposure to Bitcoin. The new fund, called the Grayscale Bitcoin Mini Trust, will be seeded with a portion of GBTC's holdings and will trade under the ticker "BTC". Existing GBTC shareholders will automatically have shares of both GBTC and the new Mini Trust without creating a taxable event. The exact amount of Bitcoin to be reallocated to the new fund and the management fees involved remain undisclosed.

March 12, 2024
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