Grayscale seeks to register a mini Bitcoin ETF

Digital asset manager Grayscale Investments has submitted an S-1 form to register a mini version of the Grayscale Bitcoin Trust (GBTC) exchange-traded fund.

As per the form submitted to the US SEC on March 12, 2024, Grayscale aims to launch Grayscale $BTC, a tax-free, low-fee ETF under the $BTC ticker. Should the SEC approve Grayscale’s request, the fintech giant will distribute the shares of the new ETF to existing GBTC shareholders.

Grayscale’s Bitcoin ETF, which was the cause of a long-drawn legal tussle between the asset manager and the SEC, is one of the most popular crypto investment products today. Unfortunately, its 1.5% fee is significantly higher than those of rival ETFs. As such, although Grayscale has yet to disclose the fees for the mini Bitcoin ETF, they are expected to be lower than those of GBTC.

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Meanwhile, Bitcoin has continued an uptrend in its pricing after surpassing the $70K threshold. As of writing, $BTC hinges at the $72.01K resistance, up by 0.5% in the last 24 hours.

Besides Grayscale several other firms have decided to capitalize on the bullish movement of the token. Rival company VanEck has reduced the sponsor fees for its Bitcoin Trust ETF until March 31, 2025. Similarly, BlackRock’s iShares Bitcoin Trust has accumulated 200K in $BTC assets since its launch in January 2024.