Grayscale has introduced its new Bitcoin Mini Trust ETF, a spin-off of its main GBTC fund. The new product, trading under the $BTC ticker, has an extremely low fee of 0.15%. This action establishes Grayscale as the lowest Bitcoin ETF issuer in the US market.
Current GBTC holders will get one share of the new fund for every share they own. The Mini Trust will trade on the NYSE Arca, with Coinbase Custody Trust Company acting as the digital asset custodian.
This launch comes as GBTC is experiencing large outflows, which are owing in part to its hefty 1.5% trading fee. The new low-cost option intends to attract more investors and boost Grayscale's market share.
The Bitcoin Mini Trust's key features include a low 0.15% fee, a modest share price for exact Bitcoin exposure, and Grayscale's ten years of cryptocurrency knowledge.
The fund invests exclusively and passively in Bitcoin to represent its value after deducting expenses and liabilities. Despite the potential benefits, investors should be aware of the significant risks and volatility associated with digital assets.
