**Breaking News: SEC Approves Grayscale's New Bitcoin ETF**

The U.S. Securities and Exchange Commission (SEC) has given the green light to Grayscale's latest Bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Mini Trust (BTC). This new ETF will be listed on the New York Stock Exchange's Arca platform.

**Key Points:**

- Grayscale announced plans on July 19 to spin off part of its flagship Bitcoin fund, Grayscale Bitcoin Trust (GBTC), into the new Mini Trust.

- The Mini Trust will feature significantly lower management fees at 0.15%, compared to GBTC's 1.5%.

- On July 31, Grayscale will transfer 10% of GBTC's spot Bitcoin holdings to the Mini Trust. Current GBTC shareholders will receive proportional shares in the Mini Trust.

- This move follows a similar strategy with Grayscale's Ethereum Trust (ETHE).

Grayscale's GBTC and ETHE funds are among the longest-running spot BTC and Ethereum funds in the U.S., with the GBTC fund managing over $17 billion in assets. This new ETF offers a tax-advantaged way for shareholders to diversify their holdings.