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

Crypto management giant Grayscale announced in a July 31 press release that its Grayscale Bitcoin Mini Trust is now available for trading on NYSE Arca.

Trading under the ticker BTC as a spot Bitcoin (BTC) exchange-traded product, the vehicle has a fee of 0.15%, which is one of the lowest fees among competing Bitcoin ETPs. Grayscale says it plans to initially seed the fund by transferring 10% of the Bitcoin from its Bitcoin ETF product, Grayscale Bitcoin Trust (GBTC).

Most Bitcoin exchange-traded products currently on the market have fees around 0.20%, according to data from Farside Investors.

As shown above, Grayscale’s first Bitcoin ETP, GBTC, has the highest fee among competing products, at 1.5%.

The press release notes that Bitcoin starts trading on NYSA Arca with a share price of $5.84 and $1.7 billion in assets under management.

Commenting on the launch, Grayscale’s senior managing director David LaValle claimed that the product will help “further lower the barrier to accessing Bitcoin in a SEC regulated [sic] investment vehicle.” The company noted that Grayscale Bitcoin Mini Trust — in contrast to most mutual funds or ETF products — 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. Last week, after the Grayscale Ethereum Trust (ETHE) was converted 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 0.15%.