Grayscale is online, can it save the market?
Grayscale Bitcoin Mini Trust Fund started trading on Wednesday morning local time after approval by the US SEC
According to The Block on July 31, according to Grayscale's statement, the registration statement of Grayscale Bitcoin Mini Trust Fund came into effect last week and began trading at 4 am Eastern Time on Wednesday (16:00 Beijing Time on Wednesday). The trust's stock code is "BTC" and is intended to be a "derivative product" of the spot Bitcoin ETF-Grayscale Bitcoin Trust.
Zach Pandl, head of research at Grayscale, said in an interview: "The timing of the launch of this product is very good. Today, the mainstream media pays much more attention to cryptocurrencies, including the upcoming interest rate cuts by the Federal Reserve, political events in the US presidential election, and Trump's policy platform may call for a weak dollar to support domestic manufacturing. These are macro trends for investors to hold Bitcoin."
After checking, the New York Stock Exchange Arca has listed the Grayscale Bitcoin Mini Trust Fund, which has not yet opened.