Grayscale prepares for Bitcoin and Ethereum ETF spinoffs in July
Grayscale is preparing for a Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds’ (ETFs) spinoff on July 23 and 31. In a recent thread on X, James Seyffart, Senior ETF Analyst at Bloomberg , provided an in-depth explanation of Grayscale’s upcoming Bitcoin and Ethereum ETF spinoffs. Doing a thread on the situation for @Grayscale's spinoff for $ETHE & $ETH because I've gotten about a million questions on it. The mechanics will be essentially the same for $GBTC & $BTC spinoff . If you own 1,000 shares of $ETHE, you should receive 1,000 shares of mini $ETH. 1/ pic.twitter.com/Er66mj5L46 — James Seyffart (@JSeyff) July 19, 2024 These spinoff s, set to launch later this month, aim to offer lower-fee options for investors. Seyffart clarified the mechanics and timelines, responding to numerous inquiries about the spinoff s. For the Grayscale Ethereum Trust (ETHE), the spinoff will occur on July 23, while the Grayscale Bitcoin Trust (G...