According to BlockBeats, Grayscale has submitted a mini version of its GBTC registration application to the U.S. Securities and Exchange Commission (SEC) on March 12th. The mini trust aims to become a 'spin-off' of GBTC, with new shares being distributed to GBTC shareholders as the trust contributes a certain amount of Bitcoin to the mini trust. Based on the S-1 filing, if approved, the mini trust will be listed on the New York Stock Exchange and operate independently from GBTC.