Just In: SEC Approves Grayscale Bitcoin Mini Trust ETF

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As a seasoned researcher with extensive experience in the financial industry and a particular focus on digital assets, I’m excited to share my perspective on Grayscale’s recent SEC approval for its new Bitcoin Mini Trust ETF.

The SEC has given its green light for Grayscale Investments to introduce its newest investment product, the Grayscale Bitcoin Mini Trust ETF, on the NYSE Arca platform.

Beginning next Wednesday, the new fund is planned for trade, providing an economical choice for investors in comparison to Grayscale’s current Bitcoin Trust (GBTC).

Based on the July 26th filing, the Grayscale Bitcoin Mini Trust comes with management fees amounting to only 0.15 percent, a noticeable decrease compared to GBTC’s 1.5% annual fee. In line with its recent introduction of the Grayscale Ethereum Mini Trust, Grayscale is focusing on offering investors more affordable costs.

Nate Geraci, President of The ETF Store, announced on Twitter that the spin-off from GBTC is anticipated to take place on the following Wednesday, with the record date being the preceding Tuesday.

The Grayscale Bitcoin Mini Trust 19b-4 has received APPROVAL…

— Nate Geraci (@NateGeraci) July 26, 2024

Beginning on July 31, Grayscale intends to move over 10% of the bitcoin from GBTC into a newly established Mini Trust. Correspondingly, GBTC shareholders will be allotted shares in the Mini Trust relative to their existing holdings.

Following Grayscale’s announcement on July 19 regarding the launch of a spin-off, which was reminiscent of their Ethereum fund’s introduction earlier this month, the approval of the new Bitcoin Mini Trust is anticipated to increase the allure of Grayscale’s investment options and offer a more affordable way for individuals to invest in Bitcoin.

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2024-07-27 04:32