{"id":184808,"date":"2023-12-16T05:39:32","date_gmt":"2023-12-16T05:39:32","guid":{"rendered":"https:\/\/precoinnews.com\/?p=184808"},"modified":"2023-12-16T05:39:32","modified_gmt":"2023-12-16T05:39:32","slug":"grayscale-mulls-over-potential-tax-implications-for-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/grayscale-mulls-over-potential-tax-implications-for-spot-bitcoin-etfs\/","title":{"rendered":"Grayscale mulls over potential tax implications for spot Bitcoin ETFs"},"content":{"rendered":"

Grayscale is evaluating the possible tax consequences associated with spot Bitcoin (BTC) exchange-trade funds (ETF), prompted by inaccurate reports circulating about unfavorable tax implications.<\/p>\n

In a series of posts on X (formerly Twitter), Grayscale clarifies that retail investors of the Grayscale Bitcoin Trust (GBTC) are not expected to incur tax implications when the fund sells Bitcoin to generate cash for meeting share redemptions.<\/p>\n

Grayscale noted that this is due to the GBTC is structured as a grantor trust, which means the entity establishing the trust is regarded as the proprietor of the assets and property for income and estate tax purposes.<\/p>\n

\u201cCash redemptions of grantor trusts are not taxable events for non-redeeming shareholders like retail investors,\u201d the post stated,while explaining its difference from mutual funds:<\/p>\n

Related: Brazil signs overseas crypto tax bill into law<\/em><\/strong><\/p>\n

This follows recent reports indicating that the United States Securities and Exchange Commission (SEC) held another meeting with Grayscale to further discuss its spot Bitcoin ETF application.<\/p>\n

On December 8, Cointelegraph reported that Grayscale and Franklin Templeton sat down with the SEC to review their applications, only a day after representatives from Fidelity appeared before the SEC.<\/p>\n

Meanwhile, just days before, on December 5, the SEC pushed back the decision on Grayscale spot Ethereum ETF until January 24, 2024.<\/p>\n

Magazine: This is your brain on crypto: Substance abuse grows among crypto traders<\/em><\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Grayscale is evaluating the possible tax consequences<\/p>\n","protected":false},"author":3,"featured_media":184807,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nGrayscale mulls over potential tax implications for spot Bitcoin ETFs - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/grayscale-mulls-over-potential-tax-implications-for-spot-bitcoin-etfs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grayscale mulls over potential tax implications for spot Bitcoin ETFs - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Grayscale is evaluating the possible tax consequences\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/grayscale-mulls-over-potential-tax-implications-for-spot-bitcoin-etfs\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-16T05:39:32+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/12\/Grayscale-mulls-over-potential-tax-implications-for-spot-Bitcoin-ETFs.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/grayscale-mulls-over-potential-tax-implications-for-spot-bitcoin-etfs\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/grayscale-mulls-over-potential-tax-implications-for-spot-bitcoin-etfs\/\",\"name\":\"Grayscale mulls over potential tax implications for spot Bitcoin ETFs - 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