Grayscale Bitcoin Trust ETF (GBTC) fell 11% in pre-market trading. This reduction is related to the establishment of the Grayscale Mini Bitcoin Trust, which will receive 10% of GBTC's holdings. The record date for this spinoff is today, and the mini trust is slated to begin trading tomorrow. Despite the initial dip in GBTC value, the total value of the package (1 GBTC share + 1 mini trust share) is projected to remain consistent with Bitcoin market movements, as the mini trust will have a reduced fee structure.#BTC #ETFbitcoin
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Grayscale Bitcoin Trust ETF (GBTC) fell 11% in pre-market trading. This reduction is related to the establishment of the Grayscale Mini Bitcoin Trust, which will receive 10% of GBTC's holdings. The record date for this spinoff is today, and the mini trust is slated to begin trading tomorrow. Despite the initial dip in GBTC value, the total value of the package (1 GBTC share + 1 mini trust share) is projected to remain consistent with Bitcoin market movements, as the mini trust will have a reduced fee structure.#BTC #ETFbitcoin