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Investors & landlords
This isn't deductible. It isn't a fee associated with the sale that they are talking about (eg, it isn't a transaction fee). It is an ongoing expense charged by Grayscale to manage the fund, and to pay their expenses, they sell off a few bitcoin every week. Your number of shares held doesn't change, but the number of bitcoin represented by your initial purchase" changes and the basis in your initial purchase is reduced by the $ of the expense sale as well. It makes sense but is just very complicated. I thought this would be an efficient and easy way to own BTC . It might be a good way since it sells at a big discount, but clearly just buying BTC and holding in a wallet is way easier and cleaner!
March 28, 2022
6:09 PM