Grayscale Investments has launched its Bitcoin Mini Trust as a spot Bitcoin exchange-traded product on NYSE Arca, starting trading today. The vehicle, trading under the ticker BTC, carries a fee of 0.15%, significantly lower than the 0.20% average of competing Bitcoin ETPs.
The fund is initially seeded with 10% of the Bitcoin from Grayscale’s Bitcoin ETF, Grayscale Bitcoin Trust (GBTC), which has a much higher fee of 1.5%. With a share price of $5.84 and $1.7 billion in assets under management, the product aims to make Bitcoin more accessible within an SEC-regulated investment vehicle.
This move follows Grayscale’s similar strategy with its Ethereum products, aiming to lower barriers for investors. The strategic importance lies in offering a low-fee, accessible option for Bitcoin investment, potentially setting a precedent for future ETPs and enhancing market competition.
