The new Bitcoin trust could offer investors non-taxable exposure to Bitcoin, according to Bloomberg analysts.
Grayscale has filed to register a new ‘mini version’ of its Grayscale Bitcoin Trust (GBTC) exchange-traded fund (ETF), under the ticker symbol “$BTC”.
The investment manager submitted an S-1 form to the U.S. Securities and Exchange Commission (SEC) on March 11, Subject to approval, the new fund would be listed on the New York Stock Exchange and operate independently of Grayscale’s main GBTC fund.
The shares of the new Bitcoin (BTC) trust are planned to be distributed to existing GBTC shareholders, as GBTC will also contribute an undisclosed amount of Bitcoin to the new trust, according to the filing.
