Grayscale Investments introduced a new product on 31 July 2024: the Grayscale Bitcoin Mini Trust.
This new offering introduced, which carries the ticker $BTC, is a spin-off of the company’s existing Bitcoin exchange-traded fund (ETF), GBTC.
The standout feature of this new ETF is its “ultra-low” fee of just 0.15%, positioning it as the most cost-effective Bitcoin ETF available in the US.
Grayscale Bitcoin Mini Trust (BTC) is solely and passively invested in Bitcoin,” the company said. “Its investment objective is to reflect the value of Bitcoin held by the Trust, less expenses and other liabilities.”
EXPLORE: What are Bitcoin ETFs? A Beginner’s Guide (Updated 2024)
Grayscale is excited to announce the launch of Grayscale Bitcoin Mini Trust, ticker: $BTC. BTC comes to market as a spin-off of our flagship fund $GBTC, and at the ultra-low cost of 0.15%. pic.twitter.com/nOrdAPCKTj
— Grayscale (@Grayscale) July 31, 2024
SEC Approval For Grayscale’s Bitcoin Mini Trust Came Earlier This Year
The Grayscale Bitcoin Mini Trust was filed with the US Securities and Exchange Commission (SEC) earlier this year.
Grayscale describes this new fund as a derivative of its existing, larger Bitcoin ETF.
Both funds will operate independently in the financial market, but the Mini Trust is designed to offer lower costs to attract more investors and diversify their investment options.
In a blog post, Grayscale explains that current holders of GBTC will automatically receive one share of the Mini Trust for each share of the original fund they hold.
This transition will not alter the value of investors’ portfolios but aims to provide them with more flexibility and lower fees.
The Grayscale Bitcoin Mini Trust will be traded primarily on NYSE Arca, a securities exchange known for its focus on ETFs.
EXPLORE: Buying and Using Bitcoin Anonymously Without ID (Updated 2024)
BONUS: 99Bitcoins Token Presale Enters Final Week As Learn2Earn Project Raises Over $2.5M
Investors are scrambling to get in on the 99Bitcoins Token presale before it ends. With under six days to go, the window is closing fast.
The presale will end on August 6th at 2 p.m. UTC. That means investors have one last chance to buy 99BTC tokens for $0.00116 each.
Get in now at this low price and join the Learn2Earn revolution today!
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
