Categories: Analysis

Grayscale Bitcoin ETF News: 5 things to know about the new “mini” BTC fund

Grayscale investments is thinking about a new one Bitcoin (BTC USD) Exchange Traded Fund (ETF) as the company prepares to launch a “mini” BTC spot fund.

Let’s dive into everything traders need to know about the new Grayscale Bitcoin ETF below!

A recent filing with the Securities and Exchange Commission (SEC) shows that Grayscale Investments intends to do so Create this mini BTC spot fund by splitting off from it Grayscale Bitcoin Trust (NYSEARCA:GBTC) ETF.
This would result in the smaller BTC spot ETF being created using Bitcoin held by the larger Grayscale Bitcoin Trust.
This would give current shareholders GBTC shares of the new ETF.
Grayscale Investments is interested in this new Bitcoin ETF to better compete with smaller BTC spot price competitors.
This would be achieved by significantly reducing the transaction fees associated with the ETF.

Grayscale Bitcoin Mini ETF gets a ticker

There is also the ticker for this new mini BTC spot fund. Grayscale Investments did it Secure the BTC ticker, which is a big win for them. This is the same ticker that Bitcoin traders use on crypto exchanges.

Today’s news sees GBTC stock fall 2%, with more than 6.1 million shares traded. The ETF’s average daily trading volume is approximately 16.4 million units.

Investors looking for even more current stock market stories today have come to the right place!

We have all the important stock market news traders want to read about on Thursday! Some examples include what’s going on with shares of Fisker (NYSE:FSR), WW International (NASDAQ:WW) And Anheuser Busch (NYSE:BUD) Inventory today. You can find out more about all of these topics using the links below!

More stock market news for Thursday

At the time of publication, William White did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.

Article printed by InvestorPlace Media, https://investorplace.com/2024/03/grayscale-bitcoin-etf-news-5-things-to-know-about-the-new-mini-btc-fund/.

David Brooks