Bloomberg analyst James Seyffart clarified in an X post that although the market widely anticipates that the Grayscale Bitcoin Mini Trust (BTC) will commence trading activities from tomorrow, this expectation is based solely on market dynamics. In reality, the trust's operations are subject to the final approval of the US Securities and Exchange Commission (SEC). The SEC's approval process involves verifying the legality and validity of relevant prospectus documents. Given the direct impact on market transactions and investor rights, the SEC typically conducts rigorous reviews and may announce its decision after or close to market closing hours. This indicates that the exact timeline for the commencement of trading for the Grayscale Bitcoin Mini Trust remains uncertain until the SEC formally approves it.