SEC Approves Grayscale's New Bitcoin Fund With Record-Low Fees

The U.S. Securities and Exchange Commission (SEC) has approved the launch of a new Grayscale Bitcoin Mini Trust fund. The fund will be traded on the NYSE Arca platform under the ticker BTC.

The key advantage of the new fund is its low fee of 0.15%, which is ten times less than that of the existing Grayscale Bitcoin Trust (GBTC), which manages $17.5 billion in assets. This makes Bitcoin investments more accessible to a wider range of investors.

Asset Distribution Strategy

Grayscale plans to transfer 10% of bitcoins from GBTC to the new Mini Trust on July 31. GBTC shareholders will automatically receive shares in the new fund proportional to their current assets, ensuring diversification of their investments.

Bitcoin Prospects in the Context of Macroeconomic Changes

Grayscale experts note the growing relevance of Bitcoin in connection with changing macroeconomic conditions and the political situation in the United States ahead of the 2024 presidential election. These factors may affect the demand for cryptocurrency and related investment products.

The SEC’s approval of Grayscale’s new Bitcoin fund is a significant event for the cryptocurrency market. It demonstrates the growing recognition of Bitcoin as a legitimate asset class by U.S. regulators and may contribute to the further integration of digital assets into the traditional financial system.