NFTs

Grayscale Files Application For Mini Bitcoin ETF

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If approved, the Bitcoin Mini Trust will use the $BTC ticker and be seeded with GBTC shares.

Digital asset manager Grayscale has filed an application with the SEC for a new spinoff product called the Bitcoin Mini Trust. If approved, it will use the $BTC ticker.

SEC Form S-1
SEC Form S-1

The filing outlines plans to distribute a portion of GBTC shares to seed the Bitcoin Mini Trust. GBTC is Grayscale’s flagship fund with over $27 billion in assets.

While the fee structure of the proposed ETF is yet to be made public, Coindesk reports that it is likely to compete with existing low-cost ETFs. The spinoff is not expected to be a taxable event for GBTC holders.