Scaramucci predicts that the initiative will face delays and will transfer a significantly smaller portion of the Grayscale Bitcoin Trust assets than anticipated.
Aimed at addressing the outflows from its existing GBTC and appealing to a broader investor base, this new ETF proposes a possibly lower expense ratio. The initiative is set to reposition Grayscale by offering existing GBTC holders an ETF with lower fees and enticing new investors with a more accessible investment vehicle.
"Interesting that BTC will be seeded via a non-taxable spinoff of GBTC shares. Love this move," ETF expert Nate GeraciAlex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.