Grayscale Plans New Bitcoin Fund as GBTC Sheds Billions
- Move comes after more than $11 billion of outflows from GBTC
- Firm would seed ‘BTC’ with Bitcoin from $28 billion GBTC fund
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Grayscale Investments LLC intends to launch a clone of the world’s biggest Bitcoin fund as it loses billions to lower-cost rivals.
The asset manager submitted plans for the Grayscale Bitcoin Mini Trust, which would be physically backed by the cryptocurrency and trade under the ticker ‘BTC,’ a Tuesday filing showed.