Grayscale Set to Unleash 'Grayscale Bitcoin Mini Trust' on NYSE Arca

Grayscale Set to Unleash 'Grayscale Bitcoin Mini Trust' on NYSE Arca

Grayscale Unveils 'Grayscale Bitcoin Mini Trust' for NYSE Arca Debut Introduction Grayscale, a prominent cryptocurrency asset management firm, has unveiled plans to launch its "Grayscale Bitcoin Mini Trust" on NYSE Arca, a leading electronic stock exchange. The trust, which will be available for trading on August 1, is designed to provide investors with exposure to Bitcoin in a more accessible format. Product Details The Grayscale Bitcoin Mini Trust will trade under the ticker "BTC" and will be structured as a Bitcoin spot ETP (Exchange-Traded Product). Investors will have access to the trust with a management fee of 0.15%. At launch, the product is expected to hold approximately $1.7 billion in assets under management and a net asset value (NAV) per share of $5.84. GBTC Connection Grayscale's existing Bitcoin spot ETF, GBTC, will play a role in the launch of the Bitcoin Mini Trust. GBTC will allocate 10% of its Bitcoin holdings to the new trust. Availability The Grayscale Bitcoin Mini Trust will begin trading on NYSE Arca at 9:00 AM ET on August 1, 2023. It is expected to provide investors with an alternative avenue to gain exposure to Bitcoin, offering greater accessibility and transparency compared to other investment vehicles. Additional Notes - Grayscale previously announced that it would distribute Mini Trust shares to GBTC holders over several days. - The launch of the Grayscale Bitcoin Mini Trust marks a significant step in the evolution of cryptocurrency asset management.