According to TechFlow, on July 31, The Block reported that Grayscale announced the launch of the Grayscale Bitcoin Mini Trust, which will officially start trading at 4 a.m. Eastern Time on Wednesday (4 p.m. Beijing Time) with the stock code BTC. As a "spin-off" product of Grayscale's flagship fund GBTC, the product provides low-cost Bitcoin investment opportunities with a management fee of 0.15%. The U.S. Securities and Exchange Commission (SEC) approved the product's 19b-4 form last week.
Zach Pandl, head of research at Grayscale, said in an interview that the market demand for low-cost Bitcoin investment will attract a lot of investors. He said that Grayscale is committed to providing customers with the best cryptocurrency investment channels and looks forward to observing the performance of the trust in the initial trading days.
