Bitcoin

Grayscale Bitcoin Trust

Spot

<ul class="news-points"> 
 <li>Grayscale is set to introduce a novel ‘mini’ spot Bitcoin ETF.&nbsp;</li> 
 <li>The firm has witnessed massive outflows due to high management fees.</li> 
 <li>Analysts believe that the new ‘mini’ ETF could offer a competitive fee structure.</li> 
</ul> 
Digital asset management firm Grayscale is taking bold steps to counter its substantial asset outflows by introducing a novel ‘mini’ spot Bitcoin ETF.&nbsp; 
The Grayscale Bitcoin Mini Trust (BTC), <a href="https://www.sec.gov/Archives/edgar/data/2015034/000119312524065444/d785023ds1.htm" target="_blank" rel="nofollow">revealed</a> in a recent filing with the SEC, is designed as a “spinoff” of the original Grayscale Bitcoin Trust (GBTC), inheriting a portion of the assets from the existing fund. 
To compensate existing GBTC holders for potential losses, investors will receive shares of equal weight in the new Grayscale Bitcoin Mini Trust. Similar to GBTC, this mini-trust will be backed by Bitcoin, providing direct spot exposure to the leading digital asset. 
According to the filing, the spin-off is not expected to trigger tax implications for GBTC or its shareholders. On the other hand, analysts speculate that Grayscale’s decision may be linked to the new fund’s management fee, which has not been disclosed yet. 
Bloomberg ETF analyst James Seyffart <a href="https://twitter.com/JSeyff/status/1767634547846324597" target="_blank" rel="nofollow">suggests</a> tha…
The post <a href="https://coinedition.com/grayscale-to-combat-massive-outflows-using-mini-bitcoin-spot-etf/">Grayscale to Combat Massive Outflows Using ‘Mini’ Bitcoin Spot ETF</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Grayscale to Combat Massive Outflows Using ‘Mini’ Bitcoin Spot ETF

Coin Edition

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