Grayscale Investments has launched its Bitcoin Mini Trust, a spot Bitcoin exchange-traded product, on NYSE Arca under the ticker BTC. The fund, with a fee of 0.15%, is among the lowest in the market.
Grayscale plans to seed the trust by transferring 10% of the Bitcoin from its Grayscale Bitcoin Trust (GBTC). This move aims to lower barriers to Bitcoin access in SEC-regulated investment vehicles.
Bitcoin starts trading at $5.84 per share, with $1.7 billion in assets. Grayscale’s senior managing director, David LaValle, emphasizes its regulatory significance.
Similar to its Ethereum ETPs, this launch highlights Grayscale’s strategic expansion.
