Grayscale Investments has officially filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to launch the Grayscale Bitcoin Mini Trust. This new trust aims to offer investors non-taxable exposure to Bitcoin at lower costs and with competitive fees compared to other Bitcoin ETFs, including Grayscale's own GBTC Trust. The Bitcoin Mini Trust, which will be seeded in part by contributions from the GBTC Trust, intends to list its shares on the NYSE ARCA under the ticker symbol $BTC. This move is seen as an effort by Grayscale to retain customers and compete with cheaper rivals by providing a lower blended fee for holders of $GBTC who move to the new mini fund. Additionally, transferring holdings from GBTC to the new mini trust will not trigger a capital gains tax event, offering tax benefits to investors. The filing has generated significant interest as it represents a strategic pivot for Grayscale amidst concerns over high fees and outflows from its flagship GBTC product.