PANews reported on July 27 that according to The Block, the U.S. Securities and Exchange Commission (SEC) approved Grayscale's Bitcoin Mini Trust's 19b-4 form on Friday. The trust fund can start trading after the S-1 registration statement becomes effective. The mini trust fund is a smaller version of the Grayscale Bitcoin Trust Fund (GBTC), and the new mini trust fund shares will be distributed to GBTC shareholders. According to a Grayscale spokesperson, the company is waiting for the registration statement to take effect, and the approval of the statement will allow the mini trust fund to operate as a U.S. spot Bitcoin exchange-traded product (ETP).