If you did not see it yet:
Grayscale somehow managed to 'acquire' the BTC ticket for it's new mini-trust (which will get 10% of GBTC's bitcoin and would have the low 0.15% fee).
The last day of trade in GBTC that would allow you to get the mini-trust is July 29 (if you would buy on July 30, then you would not get any distribution).
The price of GBTC would decrease by 10% on the 30th plus minus regular market fluctuations.
Since the distribution is 1:1 in shares, this means that mini will have a price of $5-6, most likely (if current prices prevail)-probably to entice the retail:
"look mom, BTC is at $6 per-a bargain!"
I already exchanged 2/3 of my GBTC in IRAs to IBIT/FBTC mixture (basically have 1:1:1 now).
Not sure if i should sell before the distribution or get a mini first.
No cap gains anyway, since it is an IRA, but the account cost basis would increase, of course.
I am not familiar with IRA and stuff, but when you switched out of GBTC to switch in IBIT, did you record a taxable event? You had to be careful of any procedure?
Sorry to speak about theft on this thread.
FYI:
Regular IRA (individual retirement account) in US -trades are not taxable (no cap gains tax), but withdrawals are treated as income.
Roth IRA in US-both trading and withdrawals (after being more than 59.5 years old
) are NOT taxable, but contributions are made on an after-tax basis (you got income, you got taxed, you contributed some of the remainder-up to only a certain $$ a year). P. Thiel has built a $5 bil Roth, lol.
At first i did not get what "theft" you are talking about..then i got it..you are talking about the t-word, right?
