Grayscale Investments is launching a new mini Bitcoin ETF, the Grayscale Bitcoin Mini Trust, with a low management fee of 0.15% annually.

The ETF will be seeded with assets from Grayscale's flagship GBTC product, amounting to 30,500 BTC or approximately $2 billion, to attract long-term investors.

The introduction of the Grayscale Bitcoin Mini Trust aims to counteract the significant outflows from the GBTC by providing a more cost-effective investment option.

FTX is auctioning off its remaining Solana tokens, while a group of crypto VCs has invested $12 million in the Shiba Inu meme coin, indicating continued activity in the cryptocurrency investment space.

Bitcoin transaction fees have normalized after reaching record highs, aligning with December levels.

The crypto industry is awaiting the SEC's decision on the approval of a spot ETH ETF in late May, with concerns over legal repercussions if the ETFs are rejected.