Cryptocurrency-focused investment company Grayscale has filed an application with the SEC for a mini Bitcoin fund affiliated with GBTC.
Grayscale converted to spot Bitcoin ETF 28 billion dollar giant GBTC He made a new application for To the US Securities and Exchange Commission (SEC) In the S-1 application, it is a lower fee investment instrument than GBTC. Bitcoin Mini Trust Permission was requested to put it on the market.
The new investment vehicle applied by Grayscale will be created from some of the existing GBTC shares. S-1 to file If the application is approved according to the mini trust, On the New York Stock Exchange (NYSE) will be listed and from GBTC will proceed independently.
Mini version of GBTC, investors without having to pay extra taxes to invest in Bitcoin will allow. While the distribution details and percentage of shares have not yet been disclosed, the company has filed a lawsuit with the SEC. form 14C It was stated that he planned to fill it.
In his statement on the subject, Grayscale official said that the new fund will be based on other low-cost funds in the market. spot Bitcoin ETFs with will be competitive told. After Grayscale’s GBTC fund was approved as a spot ETF in January with high transaction fees had attracted attention. It is thought that the company made such a move due to these reactions.
In this regard, it is estimated that people who have investments in the Grayscale fund will switch instead of selling.