Grayscale announces spin-off of new lower-fee Bitcoin Mini Trust (BTC) for GBTC shareholders

Grayscale Bitcoin Trust ETF

GBTC to seed new Grayscale Bitcoin Mini Trust (ticker 'BTC') via spin-off, distributing shares pro rata to GBTC holders.
New BTC ETF designed with materially lower fee than GBTC, subject to SEC effectiveness and NYSE Arca listing approval.
Spin-off expected to be non-taxable for GBTC shareholders except for cash from de minimis fractional shares.
If approved, existing GBTC holders would benefit from lower blended fee on same Bitcoin exposure.

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