Bittime - In the midst of increasingly heated crypto market turmoil, Grayscale , which is a well-known digital asset management giant, is making a breakthrough again by launching its newest product: Grayscale Bitcoin Mini Trust (BTC).
This launch marks Grayscale's strategic move to expand its reach and reach Bitcoin investors throughout the world, including in Indonesia.
Easier and Affordable Bitcoin Access
The Grayscale Bitcoin Mini Trust (BTC) is designed to provide easier and more affordable access for investors looking to get involved in the Bitcoin market.
The product will trade under the ticker "BTC" and utilize the spin-off mechanism of the Grayscale Bitcoin Trust (GBTC) , Grayscale's most popular Bitcoin trust product.
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More Competitive Fees and Tax Benefits
One of the main attractions of BTC is that its fees are more competitive than GBTC. It is estimated that BTC fees will be below 1.5%, much lower than current GBTC fees.
This is certainly good news for investors who have been hesitant to invest in GBTC because of the high costs.
Another advantage that BTC offers is that the spin-off scheme will not be a taxable event for GBTC shareholders.
This means that GBTC investors do not need to worry about being charged capital gains tax on their shareholdings in BTC.
Also Read: Aggressive Strategy: MicroStrategy Buys 12,000 BTC, Total Ownership Surpasses BlackRock!
Grayscale's Unique Strategy and Its Impact on the Market
The launch of BTC through a spin-off scheme marks Grayscale's unique strategy in reaching Bitcoin investors. This approach is unique because there has never been a commodity ETF product that used a spin-off mechanism before.
According to James Seyffart, a Bloomberg ETF expert, the BTC launch provides benefits for long-term GBTC shareholders, especially those stuck with potential capital gains tax burdens. Seyffart also predicts that BTC will further heat up competition in the Bitcoin ETF market .
BTC Price and the Future of the Crypto Market
Source: Bittime.com
On March 13, 2024, the price of Bitcoin BTC/USDT was at $72,198 per coin, up 0.46% in 24 hours and 13% in the past week.
Even though the price of Bitcoin (BTC) has experienced high fluctuations in recent months, Grayscale remains optimistic about the future of the crypto market.
The company believes that Bitcoin will continue to grow and become an increasingly popular investment asset in the future.
Also Read How to Buy Crypto:
Conclusion
The launch of the Grayscale Bitcoin Mini Trust (BTC) is a breath of fresh air for Bitcoin investors in Indonesia and around the world. This product offers easier access, more affordable fees and tax advantages for investors.
With the presence of BTC, competition in the Bitcoin ETF market is predicted to become increasingly fierce, and of course this will benefit investors who have more and more attractive investment options.
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How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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