US SEC approves Grayscale's new Bitcoin Mini Trust

The U.S. agency has made a positive decision on the 19b-4 application to list the Grayscale Bitcoin Mini Trust investment product on the Arca platform of the New York Stock Exchange (NYSE). It is known that the bitcoin-based exchange-traded product will trade under the ticker BTC.

However, when the Bitcoin Mini Trust will become available to investors is still unknown. For a final listing, the US Securities and Exchange Commission must approve the application on Form S-1, and this may take time. It took the SEC nearly five months to make a decision on the first application.

Grayscale is awaiting the effective date of the trust's Form S-1 registration statement. Final approval will allow the new product to operate in the U.S. as a spot bitcoin-ETP alongside GBTC and others, a Grayscale spokesperson said.
It is known that the Bitcoin Mini Trust will have a commission of only 0.15%, which is almost 10 times lower than that of Grayscale's other bitcoin-based spot fund GBTC.