Grayscale filed an S-1 form on Tuesday with the U.S. Securities and Exchange Commission to register its new, mini version of its Grayscale Bitcoin Trust (GBTC), named the Grayscale Bitcoin Mini Trust.

The mini trust — under the ticker symbol “BTC” — is intended to be a “spin-off” of GBTC, with new shares of the mini trust designed to be distributed to GBTC shareholders as GBTC contributes a certain amount of bitcoin to the trust, according to the S-1 filing. If approved, The mini trust will be listed on the NYSE and operate independently from GBTC.

While the percentage of shares in the planned distribution was not disclosed in the filing, it said that GBTC plans to file a 14C form with the SEC to further describe the terms and conditions of the planned spin-off.

“No consent, …