Grayscale Bitcoin Mini Trust (BTC) began trading on Wednesday after receiving approval from the U.S. SEC.
According to a statement released by Grayscale, the product began trading at 4 a.m. EST on Wednesday after the registration statement became effective. The SEC approved the product's Form 19b-4 last week.
"I think the demand for low-cost Bitcoin will attract a lot of investor interest," said Zach Pandl, head of research at Grayscale, in an interview. "We are a customer-centric organization committed to developing products that give our customers the best access to cryptocurrencies. We will watch the first few trading days."
"The timing of this product launch is very good," Pandl said. "Today, mainstream media is paying much more attention to cryptocurrencies, including the upcoming interest rate cuts by the Federal Reserve, political events in the presidential election, and Trump's policy platform that may call for a weak dollar to support domestic manufacturing. These are all macro trends for investors to hold Bitcoin." (The Block)