Grayscale Bitcoin Mini Trust (BTC) (BTC)

The Grayscale Bitcoin Mini Trust (BTC) is an exchange-traded product that holds bitcoin directly, aiming to reflect the value of the bitcoin it owns, less fund expenses. Shares give investors exposure to the price of bitcoin through an ordinary brokerage account without needing to buy, store or secure the cryptocurrency themselves.

The trust was launched in 2024 by Grayscale Investments as a lower-cost companion to the Grayscale Bitcoin Trust (GBTC). It was seeded with a portion of the bitcoin held by GBTC, which was distributed to existing GBTC shareholders when the Mini Trust began trading.

The trust's bitcoin is held with a third-party custodian, and its value is measured against a reference rate for bitcoin. It is a passive vehicle and does not use leverage or derivatives.