๐ Grayscale Investments is taking cues from BlackRock, unveiling a new, cost-effective version of its Bitcoin Trust ETF, GBTC.
๐ Although it may not match BlackRock's previous triumphs, experts foresee potential for rapid asset accumulation.
๐ Grayscale's legal victory against the SEC paved the way for such funds, yet GBTC, despite its $20 billion assets, faces consistent outflows due to high fees compared to rivals.
๐ก To counter this, Grayscale plans to launch the Bitcoin Mini Trust (BTC) with a lower fee structure, seeded with GBTC's bitcoin holdings and utilizing a spin-off mechanism.
๐ผ Additionally, Grayscale aims to introduce two ether ETFs, mirroring past strategies of other fund managers.
๐ Observers like Neena Mishra anticipate GBTC's liquidity appeal to traders, while the new BTC may attract long-term investors.
๐ Ben Johnson remains skeptical, citing a crowded market with ample low-cost options and BTC's need to catch up.
๐ฐ Despite challenges, a cheaper Bitcoin ETF could lure fresh investments, albeit facing stiff competition.
๐ฎ In essence, Grayscale's move mirrors giants like BlackRock but faces hurdles in a market flush with similar, cost-efficient options.
