Just-In: GrayScale Receives SEC Nod For Bitcoin Mini Trust ETF

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Grayscale Bitcoin Mini Trust ETF Sets Fee At 0.15%; Lowest Among Peers

Grayscale Investments has received the green light from the U. S. Securities and Exchange Commission (SEC) for its new product, the Grayscale Bitcoin Mini Trust.

Expected to open for investment next Wednesday, the fund is designed to offer investors a cheaper solution than the Grayscale Bitcoin Trust (GBTC).

SEC Approval for Grayscale’s Bitcoin Mini Trust ETF

According to Nate Geraci, the president of The ETF Store, Grayscale has been given the green light by the SEC to launch its Bitcoin Mini Trust ETF, which will greatly expand its product offering.

This new ETF is planned to start the following week with the record date set for this Tuesday. It is also a cheap investment option with fees as low as 15 basis points. This decision echoes the previous launch of the Grayscale Ethereum Mini Trust that also offers lower fees for investors.

Like the Grayscale Ethereum Mini Trust, the management fee of the Grayscale Bitcoin Mini Trust is also set at 15 basis points.

This similar reduction in fees for both Bitcoin and Ethereum products indicates a shift in Grayscale’s approach to pricing, which can be attributed to the increasing pressure from the market for cheaper crypto investment vehicles. Grayscale has sought to make its investment trusts more attractive in the face of competition by making the fee structure of its Ethereum product similar to that of its Bitcoin product.

This is a Breaking Update, Please Check Back For More

The post Just-In: GrayScale Receives SEC Nod For Bitcoin Mini Trust ETF appeared first on CoinGape.

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