Grayscale Investments provided information about the soon-to-be-launched mini version of the existing Grayscale Bitcoin Trust (GBTC) exchange-traded investment fund. The new fund will be offered to investors at much lower transaction fees compared to existing ones. This new product will carry the feature of having the lowest transaction fee among spot Bitcoin ETFs.
Investment Costs Are Decreasing
Bloomberg ETF analyst Eric Balchunas stated that Grayscale’s new move is still in the pro-forma stage, meaning it has hypothetical financial details. However, the transaction fee determined for this new fund was announced as 0.15%, which is much lower than the current GBTC fees.
Expectation of Revival in the ETF Market
Following recent declines in the ETF market, ETFs saw net inflows on April 19. Grayscale’s new step could further increase this demand. Additionally, Thomas Fahrer, CEO of Apollo, stated that Grayscale aims to remain in the market with its cost-effective new options.
Useful Information
The new Grayscale Bitcoin Mini Trust will offer a transaction fee as low as 0.15% compared to the existing GBTC.
Despite Grayscale experiencing large outflows of 315,000 BTC, spot Bitcoin ETFs generally saw net inflows of over $12 billion.
Grayscale’s strategic move could rekindle 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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