Grayscale’s Bitcoin Mini Trust ETF Approved by the SEC

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The SEC has approved Grayscale’s 19b-4 application for a mini spot BTC ETF.
The approval of S-1 filing is pending with the regulator.
The new shares of the mini BTC ETF will also be distributed to the holders of GBTC.

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, as per a filing submitted in March. The SEC submitted a document on Friday, saying:

“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…

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