🚀 Grayscale announces the launch of the "Grayscale Bitcoin Mini Trust," a more affordable version of its Bitcoin trust, with a fee of just 0.15%.
💼 This move aims to strengthen its position amid market volatility and the upcoming Bitcoin halving event.
💰 Spot Bitcoin ETFs in the U.S. are regaining investor interest, with a collective inflow of $62 million on April 22, 2024, according to SoSoValue data.
📈 Leading the pack, the Fidelity Wise Origin Bitcoin Fund (FBTC) attracted the highest inflow of $34.83 million, with other funds also performing well.
📉 However, the Grayscale Bitcoin Trust ETF (GBTC) saw outflows of about $35 million, despite overall positive inflows in spot Bitcoin ETFs, indicating a broader recovery in investor confidence.
💼 BlackRock’s iShares Bitcoin Trust ETF (IBIT) maintains a 69-day streak of net inflows as of April 23, 2024, with an average daily inflow of $223.4 million in April.
💡 Grayscale's move to launch the low-cost Bitcoin Mini Trust aims to reverse negative trends, making it competitive against cheaper offerings from firms like BlackRock and Fidelity.
🔍 The introduction of the Bitcoin Mini Trust signifies Grayscale's bid to regain market share and attract new investments amidst intense competition in the Bitcoin ETF arena.
