03:12 PM EDT, 03/13/2024 (MT Newswires) -- Grayscale Bitcoin Trust ( GBTC ) said Wednesday it has filed to launch Grayscale Bitcoin Mini Trust, ticker BTC, with a portion of assets from its flagship bitcoin exchange-traded fund GBTC.

The proposed launch "is effectively a spin-off, but with an ETF," the company said in a filing with the US Securities and Exchange Commission.

Each mini share will hold a fraction of bitcoin at lower fees compared to the GBTC ETF, the company added.

Grayscale shares were up 2.5% in recent trading.

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