Grayscale Bitcoin Trust (GBTC) Falls Premarket Due to Mini Trust and Low Fees

IconCryptoNewsTerminal Staff30 Jul, 2024

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Grayscale Bitcoin Trust (GBTC) Falls Premarket Due to Mini Trust and Low Fees

Grayscale's Bitcoin Trust (GBTC) has plummeted by more than 10% in premarket trading in the United States. The price has dropped due to selling pressure spurred by the upcoming launch of the Grayscale Mini Bitcoin Trust (BTC). According to Bloomberg analyst James Seyffart, the decline in GBTC's price is linked to the allocation of 10% of its assets to the new Mini Bitcoin Trust. The lower fee structure of the Mini Bitcoin Trust, at 0.15%, compared to GBTC's 1.5%, is seen as one of the key factors driving this shift in investor preference.

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