Grayscale Investments has provided information about the soon-to-be-launched mini version of the current Grayscale Bitcoin Trust (GBTC) exchange-traded investment fund. The new fund will be offered to investors with significantly lower transaction fees compared to the existing ones. This new product will be the fund with the lowest transaction fees among spot Bitcoin ETFs.
Investment Costs Decreasing
Bloomberg ETF analyst Eric Balchunas noted that Grayscale’s new move is still in the pro-forma stage, meaning that it has hypothetical financial details. However, the transaction fee set for this new fund was announced as 0.15 percent, which is much lower than the current GBTC fees.
Expectation of Revival in ETF Market
Following the recent declines in the ETF market, ETFs saw net inflows on April 19th. Grayscale’s new move may further increase this demand. Apollo CEO Thomas Fahrer, who stated that Grayscale needs to balance its large GBTC outflows, also revealed that Grayscale aims to remain in the market with cost-effective new options.
Useful Information
The new Grayscale Bitcoin Mini Trust will offer a transaction fee as low as 0.15 percent compared to the existing GBTC.
Despite suffering a loss of 315,000 BTC, Grayscale saw net inflows of over 12 billion dollars in general for spot Bitcoin ETFs.
The new fund will be the spot Bitcoin ETF with the lowest transaction fee.
Grayscale’s strategic move may revive investors’ interest in the Bitcoin ETF market and initiate a new period of growth in the cryptocurrency market. This new fund offers investors the opportunity to enter the cryptocurrency market at lower costs.
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