Bitcoin ETF manager Grayscale has filed with the SEC to launch its new Bitcoin Mini Trust product, according to a filing on Tuesday, Coindesk reports.
According to this application Grayscale is seeking SEC approval to introduce the Grayscale Bitcoin Mini Trust, seeded with a percentage of GBTC shares.
The Grayscale Bitcoin Mini Trust will have lower fees and will not be expected to pay capital gains tax on the automatic transfer from GBTC to the new fund.
So the mini version of GBTC is expected to offer holders additional access to Bitcoin without having to pay extra taxes.
A person close to Grayscale told CoinDesk that the currently undisclosed fees would be competitive with some low-cost Bitcoin ETFs on the market.
*This is not investment advice.
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