The Block Crypto News28 minutes ago

Published on July 31, 2024 10:01 GMT+00:00edited on July 31, 2024 10:14 GMT+00:00

Grayscale Investment's mini version of its Grayscale Bitcoin Trust (GBTC) began trading on Wednesday soon after getting approval from the U.S. Securities and Exchange Commission. 

The spot Bitcoin exchange-traded product began trading at 4 a.m. ET on Wednesday after its registration statement became effective, according to a statement released by Grayscale. The SEC approved the 19b-4 form for the product last week. 

"I think demand for very low-cost bitcoin exposure will find a lot of investor interest," said Zach Pandl, head of research at Grayscale, in an interview with The Block. "We're a client-focused organization and are just trying to build products that give our clients the best possible access to crypto. So we will see how the first few trading days go."

The trust, …