Bitcoin

mini

<ul class="news-points">
 <li>The SEC has approved Grayscale’s 19b-4 application for a mini spot BTC ETF.</li>
 <li>The approval of S-1 filing is pending with the regulator.&nbsp;</li>
 <li>The new shares of the mini BTC ETF will also be distributed to the holders of GBTC.</li>
</ul>
The U.S. Securities and Exchange Commission (SEC) has approved the application submitted by Grayscale for a spot Bitcoin exchange-traded fund (ETF) on Friday, further solidifying the demand for Bitcoin-associated investment products.
The regulator approved the 19b-4 application submitted by Grayscale for the Grayscale Bitcoin Mini Trust, which will trade under the ticker BTC. Notably, this investment product is a “spin-off” of the digital asset management firm’s original spot Bitcoin ETF, GBTC. The new shares of the product will be distributed to holders of the GBTC spot BTC ETF, as it contributes a certain number of BTC to the mini ETF, <a href="https://www.sec.gov/files/rules/sro/nysearca/2024/34-100610.pdf" target="_blank" rel="noopener noreferrer nofollow">as per a filing</a> submitted in March. The SEC submitted a document on Friday, saying:&nbsp;
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “The Commission therefore finds that the Proposals, as with other ETPs that the Commission has approved are reasonably designed to promote fair disclosure of information that may be necessary to price the shares o…
</blockquote>
The post <a href="https://coinedition.com/grayscales-bitcoin-mini-trust-etf-approved-by-the-sec/" rel="noopener noreferrer nofollow">Grayscale’s Bitcoin Mini Trust ETF Approved by the SEC</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Grayscale’s Bitcoin Mini Trust ETF Approved by the SEC

Coin Edition

Other articles published on Jul 27, 2024

Why Is The Crypto Market Up Today? Bitcoin At $69,310

The next SEC chair must be named before US election — Tyler Winklevoss

Cardano (ADA) Price Rebounds After Finding Support at $0.38 Level

These 5 Altcoins Are Poised for a Massive Surge Following Ethereum’s Rebound from the Current Dip...

Last Lap to BlockDAG’s CEO Reveal: $61.3M in Presale Rockets Crypto Investors’ Confidence; NEAR &...

James Seyffart Clarifies XRP Joke Amid Community Backlash

Join our free newsletter for daily crypto updates!