First Mover Americas: Bitcoin Layer 2s Have Their Moment

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First Mover Americas: Bitcoin Layer 2s Have Their Moment
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

STX, the native token of leading Bitcoin layer 2 network Stacks, has risen nearly 20% to $2.87 since quadrennial halving reduced the per block coin emission to 3.125 BTC from 6.25 BTC, according to data source CoinGecko. Bitcoin, meanwhile, has gained just over 4.7% to $66,300. STX is one of the best-performing top 25 cryptocurrencies of the past 24 hours, per Velo Data. Other layer 2 coins, like Elastos’ ELA token and SatoshiVM’s SAVM, have risen 11% and 5%, respectively, since halving.

The existing Grayscale Bitcoin Trust has a 1.5% fee. When Grayscale's Bitcoin Mini Trust is introduced, the filing says the company will contribute 10% of the assets in GBTC to the BTC Trust. Shares of the BTC trust are to be issued and distributed automatically to holders of GBTC shares. Grayscale’s Bitcoin Mini Trust was conceived to offer GBTC investors a lower fee option that’s more competitively in line with other bitcoin ETFs approved back in January.

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