Grayscale Launches Mini Spot Bitcoin ETF With ‘Ultra-Low’ Fee of 0.15%

The crypto investment management company has launched a new product called Grayscale Bitcoin Mini Trust, which has the ticker $BTC.

The new offering, endorsed as a spin-off of Grayscale’s GBTC Bitcoin exchange-traded fund (ETF), has a competitive and “ultra-low” fee of 0.15%.

New Grayscale Spin-Off Fund

Grayscale filed for the Mini Trust Fund with the US Securities and Exchange Commission (SEC) months ago. The company describes this derivative product as a new fund minted from an existing and possibly larger fund. After creation, both funds will exist independently in the financial market. The difference is that the new product will potentially offer lower costs to attract more investors and increase their investment options.

The investment firm explained in a blog post that existing Grayscale GBTC holders “will automatically receive one share of the spin-off fund for each share of the original fund.” However, this will not alter the value of investors’ portfolios.

The Grayscale Bitcoin Mini Trust will be traded primarily on the stock exchange, NYSE Arca. Coinbase Custody Trust Company will be a digital asset custodian for the new ETF fund, while Foreside Fund Services will be the marketing agent.

Upload again?

Since launching as a one-time Bitcoin ETF in January, Grayscale’s GBTC has seen the most outflows to date, with investors pulling millions of dollars out of BTC almost every day. This steady outflow is partly attributed to the company’s 1.5% trading face, the highest among Bitcoin ETF issuers in the country.

With its latest product, which has a trading fee of 0.15%, Grayscale is changing the narrative and positioning itself as the cheapest Bitcoin ETF issuer. Instead, most financial companies that offer the Bitcoin ETF product to US investors implement a fee between 0.19% and 0.25%.

While market data in the coming weeks may say otherwise, Grayscale’s new ETF product may propel its position in the Bitcoin ETF market to new frontiers.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!