Grayscale becomes largest Bitcoin ETF by assets under management

Grayscale becomes largest Bitcoin ETF by assets under management

The approval came after a federal court decision in August mandated the SEC to re-evaluate Grayscale’s proposal for the conversion. Since the ruling, Grayscale has worked to align GBTC’s structure with that of an ETF, which aims to reflect the market price of Bitcoin more accurately.

The new ETF maintains a closed-end structure and charges investors an annual fee of 2.0%. This fee structure and the trust’s conversion into an ETF are significant developments for institutional investors seeking indirect exposure to Bitcoin.

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