Grayscale Bitcoin Mini Trust begins trading on Wednesday morning following SEC approval
Powered by @unfolded- The Grayscale Bitcoin Mini Trust, a mini version of the Grayscale Bitcoin Trust (GBTC), began trading on Wednesday after receiving approval from the U.S. Securities and Exchange Commission (SEC).
- The trust, with the ticker symbol "BTC," is a "spin-off" of GBTC and is designed to provide low-cost exposure to bitcoin for investors.
- The launch of the trust is timely, as there is increased mainstream attention on cryptocurrencies due to factors such as the Federal Reserve's potential rate cuts and the potential for a weaker U.S. dollar.
- The trust will distribute new shares to GBTC shareholders as GBTC contributes bitcoin to the trust. A similar spin-off was approved earlier for Grayscale's Ethereum product.