Join Our
Free
Newsletter

Online Banking

Allstocks.com

Top Ten

Online Stock Trading

Bulletin Board

Stock Market Quotes

Gifts, Shopping

Pink Sheets

Page Builder

CME Globex2 Session

Live Chat Online Trading

Charts & Charting

Currency Rates

Free Auto-refreshin g Custom Pages!

Education

Stock Picks

Real-time News Pages

Internet Lingo

Investment Books

Links Worlds Largest

Stock Quotes

Research

Market Makers A-Z

Message Boards

News and Charts

Online Brokers W/ Phone Numbers

Options Information

Complete listing OTCBB Issues

Overseas Markets

Penny Stocks

S&P Fair Value

SI People & Subject

Site Map

Slang, Internet

Stock Markets

World Markets

Contact

Active Stocks

Disclaimer

Privacy Policy

Affiliate Programs

Advertise

WebSiteSupplier.com

NASCAR Schedule

PGA Schedule

 

 

 

Search:
 

Bitcoin Investment Trust Provides Update on Possible Bitcoin Cash Distribution

 

NEW YORK, Sept. 6, 2017 /PRNewswire/ -- Grayscale Investments, LLC, the sponsor (the "Sponsor") of the Bitcoin Investment Trust (the "Trust") (OTCQX: GBTC), announced that it continues to work with the Trust's professional advisors and third-party service providers to understand the implications for the Trust of the fork in the Bitcoin blockchain that resulted in the creation of Bitcoin Cash.

To maximize shareholder value, the Sponsor has begun a process with the Trust's professional advisers to evaluate, among other options, the feasibility of forming an entity to hold the Bitcoin Cash and distributing interests in that entity to the Trust's shareholders. As part of that evaluation, the Sponsor expects to engage in discussion with relevant regulators, including the U.S. Internal Revenue Service and the U.S. Securities and Exchange Commission, to ensure that the Trust continues to be treated as a grantor trust for U.S. federal income tax purposes. Receiving regulatory guidance in respect of such a distribution, while prudent, may be a lengthy process of several months or more.  There can be no assurance regarding whether or when the Trust will obtain such guidance.

If and when formal guidance is received, the Sponsor will determine a record date for any potential distribution. However, the Sponsor can offer no assurance as to whether or when shareholders of the Trust might participate in any value attributable to Bitcoin Cash. If and when further updates are made available, the Sponsor intends to disseminate relevant information to the Trust's shareholders.

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. A trusted authority on digital currency investing, Grayscale Investments, LLC provides market insight and investment exposure to the developing digital currency asset class. 

Grayscale Investments, LLC is headquartered in New York City. 

 

View original content:http://www.prnewswire.com/news-releases/bitcoin-investment-trust-provides-update-on-possible-bitcoin-cash-distribution-300515060.html

SOURCE Grayscale Investments, LLC

Back to top


 

Allstocks.com  Links  Search   Disclaimer  About Us

webmaster@allstocks.com

Allstocks.com Advertising

© 1995, 1996, 1997, 1998,1999, 2000, 2001 Allstocks.com. All rights reserved.