Grayscale Bitcoin Mini Trust (GBTC) to Distribute Mini Trust to Shareholders

IconCryptoNewsTerminal Staff30 Jul, 2024

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Grayscale Bitcoin Mini Trust (GBTC) to Distribute Mini Trust to Shareholders

Grayscale, a cryptocurrency asset management company, has announced the upcoming distribution of Grayscale Bitcoin Mini Trust (BTC) to holders of GBTC shares within the next few days. The Grayscale Mini Bitcoin Trust will have a 0.15% fee, significantly lower than GBTC's 1.5% fee. It will represent 10% of GBTC's assets, with a total Assets Under Management (AUM) of $1.774 billion as of July 30th. This distribution will provide GBTC shareholders with exposure to the underlying asset, Bitcoin, in a more cost-effective way. The Grayscale Bitcoin Mini Trust holds approximately 26,935 BTC. This move by Grayscale is expected to increase accessibility to Bitcoin investments and further legitimize the cryptocurrency within the financial industry.

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