Grayscale plans industry-low 0.15% fee for Bitcoin Mini Trust spinoff fund, under ticker BTC | Headlines | News | CoinMarketCap

04/21/2024 00:28
Grayscale plans industry-low 0.15% fee for Bitcoin Mini Trust spinoff fund, under ticker BTC | Headlines | News | CoinMarketCap

Grayscale's latest financial filing has revealed new details about its new fund, the Bitcoin Mini Trust, which the company says will be listed on …

Grayscale's latest financial filing has revealed new details about its new fund, the Bitcoin Mini Trust, which the company says will be listed on NYSE Arca under the ticker BTC and charge a competitive fee rate of .15%. 

First announced in March, the spinoff trust provides a way for Grayscale to contribute some of the coins in Bitcoin's oldest exchange-traded product to a smaller trust that charges less in fees without incurring a taxable event on existing holders. Shares will be distributed automatically to holders as of the record date, which has yet to be revealed. 

According to its latest pro forma financial statement, Grayscale plans to contribute 63,620 Bitcoin towards the fund's initial distribution, or 10% of the Bitcoin held by GBTC at the start of the year, which has …

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