Grayscale Bitcoin Mini ETF has been listed on the New York Stock Exchange with a management fee of 0.15%. Grayscale has made a good calculation. The management fee of Bitcoin ETF is 1.5%. It wants to have a piece of the old cake alone, and now it has launched a mini ETF to compete with other asset management companies for the market. Unfortunately, it has played a good hand of cards badly. If it had launched the Bitcoin Mini ETF at the beginning, it could have attracted some users with its good reputation and lower management fees. Now the market has been eaten up by BlackRock and others. It’s too late.