The U.S. SEC approves Grayscale's Bitcoin Mini Trust Fund's 19b-4 form

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) approved Grayscale's Form 19b-4 for its Bitcoin mini trust fund on Friday. The trust fund can begin trading once the S-1 registration statement becomes effective. This mini trust fund is a scaled-down version of the Grayscale Bitcoin Trust (GBTC), and the new mini trust fund shares will be distributed to GBTC shareholders.

According to a Grayscale spokesperson, the company is waiting for the registration statement to become effective, and the approval will allow the mini trust fund to operate as a U.S. spot Bitcoin exchange-traded product (ETP).