Cash liquidating distribution

Posted by / 25-May-2018 02:09

Cash liquidating distribution

/PRNewswire/ --  Grayscale Investments, LLC, the sponsor (the "Sponsor") of the Bitcoin Investment Trust (the "Trust")(GBTC), announced today plans to respond to the possible fork of the Bitcoin blockchain that would result in the creation of a new digital currency in addition to Bitcoin called Bitcoin Cash." data-reactid="11" /PRNewswire/ -- Grayscale Investments, LLC, the sponsor (the "Sponsor") of the Bitcoin Investment Trust (the "Trust")(GBTC), announced today plans to respond to the possible fork of the Bitcoin blockchain that would result in the creation of a new digital currency in addition to Bitcoin called Bitcoin Cash.

August 1, 2017, a group of miners and users will adopt a proposed modification to the Bitcoin software that would result in the creation of a digital currency known as Bitcoin Cash.

An ETF is a basket of securities, traded on a stock exchange that is bought and sold throughout the day, much like stocks. ETFs continued to multiply until 2007, when many advisors began warning that the proliferation of these products could backfire.

About Grayscale Investments, LLC   Founded in 2013, Grayscale Investments, LLC is a wholly-owned subsidiary of Digital Currency Group, Inc., which builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital.

The board of directors, or trustees of the ETF, will approve that each share is individually redeemable upon liquidation, since they are not redeemable while the ETF is still operating; they are redeemable in creation units.

(For more insight, see .) Investors who want out of the fund upon notice of the liquidation, sell their shares; the market maker will buy the shares and the shares will be redeemed.

S., but 23 liquidations resulted in the first quarter-over-quarter decline, in the number of available American ETFs, since their inception.

Tutorial: Exchange-Traded Fund (ETF) Investing Reasons for an ETF Shutdown Several reasons exist for the liquidation of ETFs, but the top reasons include a lack of investor interest and a limited amount of assets.

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The amount of any distribution will be net of expenses of the Sponsor and the Trust, including costs associated with liquidation and distribution.