Grayscale Updates GBTC Trust to Pave Way for Spot Bitcoin ETF Approval
• Grayscale updating GBTC trust agreement for first time since 2018 to optimize for anticipated spot bitcoin ETF
• Updates allow fees to be paid daily rather than monthly and assets to be held in omnibus account
• Changes aim to level playing field vs competitors like BlackRock for SEC spot bitcoin ETF approval
• Grayscale remains ready to convert GBTC to spot bitcoin ETF on NYSE Arca upon regulatory approval
• Shareholders have 20 days to vote on updates, which come at no extra cost