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Digital asset manager Grayscale Investments on Tuesday filed for a spin-off of its spot bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust (GBTC).
The spin-off is part of a bid to offer investors lower-fee exposure to bitcoin, according to a person familiar with the matter.
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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…
