Grayscale Launches Bitcoin Mini Trust on NYSE Arca
Grayscale, a leading digital asset management firm, recently announced the launch of its Bitcoin Mini Trust ($BTC) on the NYSE Arca. The new exchange-traded product, trading under the symbol $BTC, is set to go live as a spot Bitcoin ETF on July 31, 2024. This development marks a significant milestone in the world of cryptocurrency investment, offering investors a regulated and accessible way to invest in Bitcoin.
Lowest Fees for Investors
One of the key advantages of Grayscale’s Bitcoin Mini Trust is its low fees, making it an attractive option for investors looking to gain exposure to Bitcoin. With fees as low as 0.15%, the asset manager is making it more affordable for investors to participate in the crypto market. This move aligns with Grayscale’s commitment to democratizing access to digital assets and expanding its product suite to cater to a wider range of investors.
Positive Market Response
Following the announcement, the market responded positively to the launch of $BTC, with the net asset value per share set at $5.84. As of July 30, 2024, the fund already boasts assets under management of $1.7 billion, signaling strong investor interest in the product. This success further solidifies Grayscale’s position as a trusted provider of digital asset investment solutions in the US market.
