Grayscale: GBTC holders may convert part of their holdings into Bitcoin Mini Trusts, which is not expected to constitute a taxable event

The U.S. Securities and Exchange Commission approved the Grayscale Bitcoin Mini Trust's Form 19b-4 last week. According to the S-1 filing released in March, the trust will be ticker symbol "BTC" and will be traded on the New York Stock Exchange Arca as a "spin-off" product of GBTC. Grayscale said GBTC holders will see part of their holdings converted into the new fund, which is not expected to constitute a taxable event. (Decrypt)