Grayscale has filed an application to launch the Grayscale Bitcoin Mini Trust with the ticker symbol "BTC" (James Seyffart - Bloomberg).

- What does this mean?

They will split the GTBC fund into two parts, with one part transitioning to the new fund with the ticker symbol "BTC," while the remaining part will continue as "GBTC."

The part transitioning to the new fund is likely to have lower fees, catering to long-term HODLers who do not require high liquidity. However, they have not specified the exact percentage for that part.

- Why are they using the ticker symbol "BTC"?

Grayscale acquired the rights from Clearshares, which was the first company to use the ticker symbol "BTC." Having the "BTC" ticker symbol is a significant advantage for Grayscale as investors typically search for "BTC" on stock trading platforms.

- Why do they want to split into two instead of reducing fees? Wouldn't it be simpler that way?

It is possible that they have contracts with certain organizations that are currently using GBTC. These organizations might accept higher fees rather than canceling their contracts. Therefore, they will continue to charge high fees for those funds, while the remaining portion will transition to the new fund. #BTC #GBTC(Grayscale) #ETFMARKET #Write2Earn‬