Ethereum

Wednesday

Bitcoin

Grayscale Investments has received approval from the U.S. Securities and Exchange Commission (SEC) to launch its new Grayscale Bitcoin Mini Trust ETF on the New York Stock Exchange’s Arca platform
The fund, which is scheduled to begin trading next Wednesday, is designed to offer investors a more affordable alternative to Grayscale’s existing Bitcoin Trust (GBTC).
According to the July 26 <a href="https://www.sec.gov/files/rules/sro/nysearca/2024/34-100610.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a>, the Grayscale Bitcoin Mini Trust will feature management fees of just 15 basis points, significantly lower than the 1.5% annual fee charged by GBTC. This fee structure aligns with Grayscale’s recent launch of the Grayscale Ethereum Mini Trust, which also emphasizes reduced costs for investors.
Nate Geraci, president of The ETF Store has confirmed the approval stating in a twee that the “Spinoff from GBTC set to happen next Wednesday (date of record is Tuesday)”
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Grayscale Bitcoin Mini Trust 19b-4 has been APPROVED… Spinoff from GBTC set to happen next Wednesday (date of record is Tuesday). Will be lowest cost spot bitcoin ETF at 15bps. <a href="https://t.co/opFrSAENFu" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/opFrSAENFu</a>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1816930149331255520?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 26, 2024</a>
 </blockquote>
 </div>
</figure>
On July 31, Grayscale plans to transfer 10% of the Bitcoin held by GBTC into the new Mini Trust. Existing GBTC shareholders will receive shares in the Mini Trust in proportion to their current holdings.
 This approval follows Grayscale’s July 19 <a href="https://www.cryptotimes.io/2024/07/20/grayscale-announces-bitcoin-etf-spinoff-plans-for-july-31/" rel="noopener noreferrer nofollow">announcement</a> about the spin-off, which also mirrors a similar move with its Ethereum fund earlier this month. The introduction of the Bitcoin Mini Trust is expected to enhance the attractiveness of Grayscale’s offerings and provide a more cost-effective vehicle for Bitcoin investment.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/23/grayscale-transfers-1-01b-ethereum-to-coinbase-prime/" rel="noopener noreferrer nofollow">Grayscale Transfers $1.01B Ethereum to Coinbase Prime</a>
</blockquote>

Just In: SEC Approves Grayscale Bitcoin Mini Trust ETF

The Crypto Times

2024년 7월 26일에 게재된 다른 기사

dYdX Post-Mortem Reveals Two Users Lost $31K in DNS Hijack

BlackRock Crypto Chief Dismisses Possibility Of Solana, XRP ETF Approval

Bitcoin Price May Drop Due to Expiring Futures Options

Semler Scientific To Acquire More Bitcoin (BTC) With Stock Sales

Ethereum Plummets 8.5% Following ETF Outflows: Analyzing the Market Reaction

Cardano Launches Node 9.1.0: The Dawn of the Chang Hard Fork Era

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!