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Grayscale Bitcoin Mini Trust ETF (NYSEARCA:BTC) announced changes to its key service agreements, according to a statement filed with the Securities and Exchange Commission.
On October 3, Grayscale Investments Sponsors, LLC, acting on behalf of the ETF, entered into a new prime broker agreement with Coinbase, Inc. The agreement also involves Coinbase Custody Trust Company, LLC and Coinbase Credit, Inc. Under this arrangement, Coinbase will continue to serve as the ETF’s prime broker and custodian, responsible for holding the trust’s Bitcoin assets in fiduciary accounts.
The new agreement replaces a previous prime broker agreement that was in effect since May 2, 2024. The prior agreement was officially terminated as of October 3.
Separately, the ETF’s sponsor engaged BNY Mellon Asset Servicing, a division of The Bank of New York Mellon, to provide administrative and accounting services. The new fund administration and accounting agreement with BNY Mellon became effective Thursday. BNY Mellon had previously provided these services under an agreement dated February 26, 2024, which was terminated as of Thursday.
Both new agreements update the terms under which Coinbase and BNY Mellon provide their respective services to the trust. The ETF’s sponsor stated that all references to the previous agreements in its annual report and other SEC filings now refer to the updated agreements.
This information is based on a press release statement included in the ETF’s SEC filing.
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