Grayscale Launches Bitcoin Mini Trust on NYSE Arca
Grayscale, a leading digital asset manager, recently announced the launch of its Bitcoin Mini Trust ($BTC) on NYSE Arca. The new exchange-traded product, which is a derivative of Grayscale’s popular GBTC, will trade under the symbol $BTC and go live as a spot Bitcoin ETF on July 31, 2024.
This move by Grayscale aims to provide easier access to Bitcoin for investors in SEC-regulated investment vehicles. With a net asset value per share of $5.84 and assets under management of $1.7 billion as of July 30, 2024, the Bitcoin Mini Trust offers a convenient way for investors to gain exposure to the digital asset.
Lowest Fees Among Spot Bitcoin ETFs
Grayscale’s Bitcoin Mini Trust stands out for its low fees, with a rate of only 0.15%, making it one of the most cost-effective options for investing in Bitcoin. This fee structure makes it an attractive choice for investors looking to minimize costs while gaining exposure to the cryptocurrency market.
Additionally, the launch of the $BTC follows Grayscale’s strategic decision to allocate 10% of the GBTC base Bitcoin seed to the new product. This move underscores Grayscale’s commitment to expanding its product offerings and catering to a diverse range of investors interested in cryptocurrency investing.
Expanding Grayscale’s Product Suite
With over a decade of experience managing their flagship Bitcoin fund, GBTC, Grayscale is well-positioned to introduce innovative products like the Bitcoin Mini Trust to the market. By offering a range of investment options, including the Bitcoin Mini Trust, Grayscale aims to provide investors with diverse avenues for participating in the growing cryptocurrency market.
Overall, the launch of the Bitcoin Mini Trust demonstrates Grayscale’s continued dedication to driving innovation in the digital asset space and making cryptocurrency investing more accessible to a broader audience.
