Grayscale, the manager of the Grayscale Bitcoin Trust (GBTC), is updating the trustโs agreement for the first time since 2018, according to a Wednesday filing. The aim is to optimize GBTCโs structure for an anticipated change to a spot bitcoin ETF and level the playing field when it comes to other applicants including asset-management giant BlackRock. The update, which will be put out for a shareholder vote, involves two proposed modifications to the trust agreement. The first allows fees, which had been collected by Grayscale on a monthly basis, to be payable daily. This is a structural tweak and not part of a fee reduction โ something Grayscale has committed to, but which has not been finalized โ a company spokeswoman said.
Demand for Bitcoin Futures ETF BITO Ramps Up
