Grayscale Revamps GBTC Agreement in Preparation for Bitcoin ETF Conversion
Grayscale, the company behind the Grayscale Bitcoin Trust (GBTC), has updated its trust agreement. These modifications, the first since 2018, are intended to enhance GBTC’s framework in preparation for a potential transition to a spot Bitcoin exchange-traded fund (ETF) and create a fairer competition with other contenders, including the prominent asset management firm BlackRock. Key