GBTC - which in January received approval to convert from a trust to an ETF - currently has higher fees than its peers, one of the key factors in drawing investors to rival ETFs, Reuters has reported. Grayscale filed to list shares of a new investment product, the Grayscale Bitcoin Mini Trust, which will receive a certain amount of bitcoin held by GBTC. In exchange, current GBTC shareholders will get stock in the Mini Trust, the company said.
Grayscale is set to introduce a new Bitcoin ETF, the Grayscale Bitcoin Mini Trust, in an innovative move aimed at revitalizing its flagship Grayscale Bitcoin Trust (OTC: GBTC)