As a GBTC shareholder, I just received an email from grayscale stating their intention to convert to an ETF. Maybe they are really serious about turning the trust into an ETF. The big question then is what will their fee be when it does happen.
In case you missed it, we released a communication today regarding Grayscale’s intentions for a Bitcoin
ETF (
https://go.grayscale.co/e/652383/for-a-bitcoin-etf-b11e4faf4c05/bnbhz/239595549?h=VQssTGl7o1CsRdCXWN9pgUulF29V5XvSrzO16OVrCuQ) and our initiative to convert Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF.
As a summary, this reiterates that:
We are 100% committed to converting GBTC into an ETF, as well as bringing all of our other products through the full lifecycle of our business model, iterated below, when permissible.
The timing will be driven by the regulatory environment.
When GBTC converts to an ETF, shareholders of publicly-traded GBTC shares will not need to take action and the management fee will be reduced accordingly.
For more information, we invite you to read the blog post, also referenced in the 8-K we filed today.
All the best,
Grayscale Investor Relations Team