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Grayscale Bitcoin Mini Trust Surpasses $1 Billion in Net Inflows
The Grayscale Bitcoin Mini Trust has surpassed the significant milestone of $1 billion in net inflows as of December 17, according to a recent report. This impressive achievement highlights a growing interest in low-cost cryptocurrency investment options.
In July, Grayscale introduced the Bitcoin Mini Trust and Ethereum Mini Trust as alternatives to its higher-cost products, such as the Grayscale Bitcoin Trust (GBTC) and Ethereum Trust (ETHE). The notable difference lies in the management fee, with the mini trusts charging a mere 0.15%, significantly lower than the 1.5% and 2.5% fees associated with GBTC and ETHE, respectively.
It is clear that this adjustment was made to cater to investors seeking low-cost cryptocurrency ETFs. John Hoffman, Grayscale’s managing director, stated in October that the success of low-cost funds like BTC and ETH reflects growing demand for accessible exchange-traded products (ETPs).
The launch of spot Bitcoin ETFs earlier in 2024 triggered significant activity in the crypto investment space. U.S.-based Bitcoin ETFs collectively crossed $100 billion in assets by November, according to Bloomberg Intelligence. Bitcoin ETFs Surpass U.S. Gold ETFs in AUM.
Source: coinchapter.com
