- Revolutionizes Bitcoin investment with ultra-low fees
- Spin-off from flagship Grayscale Bitcoin Trust ($GBTC)
- Expands accessibility to Bitcoin for retail investors
Grayscale Investments, a leading digital asset management firm, has introduced a groundbreaking new product – the Grayscale Bitcoin Mini Trust. Carrying the ticker symbol $BTC, this innovative offering is a spin-off of the company’s existing Bitcoin exchange-traded fund (ETF), $GBTC.
The standout feature of the Grayscale Bitcoin Mini Trust is its ultra-low fee of just 0.15%, positioning it as the most cost-effective Bitcoin ETF available in the US market. This strategic move by Grayscale aims to make Bitcoin investments more accessible and affordable for a wider range of investors, particularly retail investors.
According to Grayscale, the Grayscale Bitcoin Mini Trust ($BTC) is “solely and passively invested in Bitcoin,” with the investment objective of reflecting the value of the Bitcoin held by the Trust, minus expenses and other liabilities. This streamlined approach ensures that investors can directly participate in the performance of the world’s largest cryptocurrency without the complexities of directly holding and managing Bitcoin themselves.
The Grayscale Bitcoin Mini Trust was filed with the US Securities and Exchange Commission (SEC) earlier this year and has received regulatory approval. It will operate independently from the flagship $GBTC fund but will offer current holders of $GBTC the opportunity to automatically receive one share of the Mini Trust for each share they hold in the original fund. This transition aims to provide investors with more flexibility and lower costs without altering the value of their existing portfolios.
The Grayscale Bitcoin Mini Trust will be primarily traded on the NYSE Arca, a securities exchange known for its focus on ETFs, further enhancing its accessibility and liquidity for investors.