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David Vance

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Grayscale Bitcoin Trust

Grayscale Investments has launched its Bitcoin Mini Trust as a spot Bitcoin exchange-traded product on NYSE Arca, beginning trading today. 
Crypto management giant Grayscale announced in a July 31 <a href="https://www.globenewswire.com/news-release/2024/07/31/2921661/0/en/Grayscale-Bitcoin-Mini-Trust-Ticker-BTC-Begins-Trading-on-NYSE-Arca-as-Grayscale-Investments-Newest-Bitcoin-ETP.html" target="_blank" rel="">press release</a> that its Grayscale Bitcoin Mini Trust is now available for trading on NYSE Arca. 
Trading under the ticker BTC as a spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) exchange-traded product, the vehicle has a fee of 0.15%, which is one of the lowest fees among competing <a href="https://crypto.news/tag/bitcoin-etp/" target="_blank" rel="noreferrer noopener">Bitcoin ETPs</a>. Grayscale says it plans to initially seed the fund by transferring 10% of the Bitcoin from its Bitcoin ETF product, Grayscale Bitcoin Trust (GBTC). 
Most Bitcoin exchange-traded products currently on the market have fees around 0.20%, according to data from <a href="https://farside.co.uk/?p=997" target="_blank" rel="">Farside Investors</a>. 
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 <a href="https://farside.co.uk/?p=997" target="_blank" rel="">
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 <img loading="lazy" decoding="async" width="1298" height="534" src="https://crypto.news/app/uploads/2024/07/Screenshot-2024-07-31-at-2.11.17 PM.png" alt="Grayscale debuts Bitcoin Mini Trust as spot BTC ETP on NYSE Arca - 30"> 
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 U.S. Bitcoin ETF fees | Source: <a href="https://farside.co.uk/?p=997" target="_blank" rel="">Farside Investors</a>
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As shown above, Grayscale’s first Bitcoin ETP, GBTC, has the highest fee among competing products, at 1.5%. 
 You might also like: <a href="https://crypto.news/bitcoin-drops-below-66k-as-mt-gox-moves-2b/"> Bitcoin drops below $66k as Mt. Gox moves $2b </a> 
The press release notes that Bitcoin starts trading on NYSA Arca with a share price of $5.84 and $1.7 billion in assets under management. 
Commenting on the launch, Grayscale’s senior managing director David LaValle claimed that the product will help “further lower the barrier to accessing Bitcoin in a SEC regulated [sic] investment vehicle.” The company noted that Grayscale Bitcoin Mini Trust — in contrast to most mutual funds or ETF products —&nbsp;is not registered under the Investment Company Act of 1940 and is not regulated by it. 
Grayscale made a <a href="https://crypto.news/ethereum-etfs-first-week-sees-net-outflows-triggered-by-grayscale-ethe/" target="_blank" rel="noreferrer noopener">similar move</a> with its spot <a href="https://crypto.news/inside-look-at-the-performance-and-structure-of-new-ethereum-etfs/" target="_blank" rel="noreferrer noopener">Ethereum ETPs</a>. Last week, after the Grayscale Ethereum Trust (ETHE) was converted to a spot ETP (retaining its relatively high 2.5% fee), the firm launched the Ethereum Mini Trust (under the ticker ETH), which also boasts a relatively low fee 0.15%. 
 Read more: <a href="https://crypto.news/ethereum-etfs-first-week-sees-net-outflows-triggered-by-grayscale-ethe/"> Ethereum ETFs see $341.8m net outflows in first week, triggered by Grayscale’s ETHE </a>

Grayscale debuts Bitcoin Mini Trust as spot BTC ETP on NYSE Arca

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