Grayscale Investments has provided information about the soon-to-be-released mini version of the current Grayscale Bitcoin Trust (GBTC) exchange-traded investment fund. The new fund will be offered to investors with much lower transaction fees compared to the existing ones. This new product will possess the feature of having the lowest transaction fee among spot Bitcoin ETFs.
Investment Costs are Decreasing
Bloomberg ETF analyst Eric Balchunas stated that this new step by Grayscale is still at the pro-forma stage, meaning 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 Markets
After the recent fluctuations in the ETF market, ETFs saw net inflows on April 19. Grayscale’s new step could further increase this demand. In addition, Thomas Fahrer, CEO of Apollo, stated that Grayscale aims to stay in the market with its cost-effective new options to balance the large GBTC outflows.
Useful Information
The new Grayscale Bitcoin Mini Trust will offer a transaction fee as low as 0.15 percent compared to the current GBTC.
Although Grayscale suffered a loss of 315,000 BTC in large outflows, spot Bitcoin ETFs generally saw net inflows of over $12 billion.
The new fund will be the spot Bitcoin ETF with the lowest transaction fee.
Grayscale’s strategic move could 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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