The SEC has given its stamp of approval for the Grayscale Bitcoin Mini Trust to trade on the NYSE Arca platform.

In recent news, the United States Securities and Exchange Commission (SEC) has approved a new listing from the New York Stock Exchange (NYSE) Arca for shares of Bitcoin Mini Trust, which is under the management of Grayscale, a firm specializing in asset management. Furthermore, the SEC has expeditiously approved the Chicago Board Options Exchange (CBOE) registration. SEC The newly created Bitcoin Mini Trust, which is a derivative of the existing Grayscale Bitcoin Trust, allocates a portion of its assets into the new fund. After its transition from a closed-ended fund to a spot exchange-traded fund (ETF), GBTC has experienced slower inflows compared to its peers, mainly due to the firm's strategy of maintaining higher fees in relation to other similar investment products. NYSE Grayscale has set a management fee of 1.5% for GBTC holders, whereas the Bitcoin Mini Trust has a significantly lower fee of 0.15%. This pricing strategy aims to attract fresh investors while allowing current GBTC holders to retain their shares without triggering a taxable event. CBOE ) BZX on the same day.

In addition, some of the holdings from GBTC will be transferred to the new fund without incurring tax consequences.

Grayscale Grayscale's GBTC and ETHE funds are recognized as some of the most prominent investment products in the U.S., having been initiated in 2013 and 2017, respectively. The GBTC fund currently manages assets amounting to over $17 billion.

This recent advancement follows the SEC's previous approval in January of eleven spot Bitcoin ETFs, which subsequently received a considerable influx of investments. Moreover, the SEC has recently taken steps that caught many by surprise, as Grayscale has now been approved for both a spot Ethereum ETF and a spot Bitcoin ETF.

Referring to the United States Securities and Exchange Commission, please be aware that the information on this page is not meant to serve as legal, tax, investment, financial, or any form of advisory guidance. It is crucial to invest only what you can afford to lose and consider seeking independent financial advice if needed. For more details, we recommend checking the terms and conditions, as well as FAQ sections provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial news, but market conditions can change unexpectedly.

Alisa, a passionate journalist at Metaverse Post, focuses on the realms of cryptocurrency, zero-knowledge proofs, investments, and the intricate world of Web3. With her ability to spot emerging technologies and trends, she offers in-depth articles that engage readers in the fast-paced environment of digital finance.

The company Enso, LayerZero, and Stargate have joined forces to enable one of the largest liquidity migrations within Ethereum to Unichain.

JetBrains has made its Mellum AI model for cloud-based code assistance open-source, and it is now accessible on Hugging Face. approved spot Ethereum ETF Harvard has initiated legal action against the Trump administration regarding a $2 billion funding freeze, bringing light to issues surrounding blockchain's integration in educational institutions.