SEC Approved Grayscale Bitcoin Mini Trust For Trading On NYSE Arca

Quick Summary:

A person familiar with the matter said the distribution would offer existing shareholders a tax-advantaged way of swapping out of the legacy fund and into the new ETF.

The GBTC fund holds upward of $17 billion in assets.

As a result of the spinoff, GBTC holders will hold the same amount of spot BTC as before, but across two different funds.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: IndiaUnited States

Topics: Mini Trust Approved SEC Trading BITCOIN NYSE Arca Grayscale News Bitcoin News Latest News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-28 @ 02:49:08 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 329 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21799801

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 16 posts per day

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News Last Updated: 13 hours ago

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