Grayscale Investments has introduced its Bitcoin Mini Trust as a spot Bitcoin exchange-traded product on NYSE Arca, beginning trading today.

Grayscale announced on July 31 that its Grayscale Bitcoin Mini Trust is now available for trading on NYSE Arca. Trading under the ticker BTC, this spot Bitcoin exchange-traded product comes with a fee of 0.15%, one of the lowest among competing Bitcoin ETPs. Grayscale plans to initially seed the fund by transferring 10% of the Bitcoin from its Grayscale Bitcoin Trust (GBTC).

Most Bitcoin exchange-traded products currently on the market have fees around 0.20%. Grayscale’s first Bitcoin ETP, GBTC, has the highest fee among competing products, at 1.5%.

Bitcoin starts trading on NYSA Arca with a share price of $5.84 and $1.7 billion in assets under management. Grayscale’s senior managing director David LaValle stated that the product aims to “further lower the barrier to accessing Bitcoin in an SEC-regulated investment vehicle.” Unlike most mutual funds or ETF products, the Grayscale Bitcoin Mini Trust is not registered under the Investment Company Act of 1940 and is not regulated by it.

Grayscale made a similar move with its spot Ethereum ETPs. After converting the Grayscale Ethereum Trust (ETHE) to a spot ETP (retaining its relatively high 2.5% fee), the firm launched the Ethereum Mini Trust (under the ticker ETH), which also boasts a relatively low fee of 0.15%.

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