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New Grayscale ETF emerges with market-leading low fee structure. Grayscale plans to launch its Grayscale Bitcoin Mini Trust with a 0.15% management fee, according to the company’s latest filing with the US Securities and Exchange Commission (SEC). Introduced in March, the Grayscale Bitcoin Mini Trust is Grayscale’s new investment product designed to provide investors with affordable exposure to Bitcoin. As noted in the filing, the product is expected to operate under the ticker symbol “BTC” and will be listed on NYSE Arca. Grayscale also intends to distribute 63,204 Bitcoin (BTC), or 10% of Grayscale Bitcoin Trust’s (GBTC) existing assets to the Mini Bitcoin Trust. GBTC Shares will continue to be traded on NYSE Arca without interruption. Shareholders of GBTC will automatically receive shares of the new Mini Bitcoin Trust without incurring additional fees or needing to take any action. This distribution is not considered a taxable event for US federal income tax purposes, meaning shareholders will not recognize any income, gain, or loss at the time of receipt, as per the filing. READPancakeSwap’s Striking Rising: A 91% Surge Driven By Innovative Portfolio ManagerAccording to Bloomberg ETF analyst Eric Balchunas, the proposed fee would make Grayscale’s new product the “cheapest” Bitcoin ETF in the market and give the entity a “fighting chance for inflows.” According to Farside Investors’ data, GBTC, which charges a relatively high management fee of 1.5%, has seen around $16.7 billion in outflows since its conversion. Meanwhile, BlackRock’s Bitcoin ETF (IBIT) has $17.3 billion in assets under management, nearing the size of GBTC’s fund.
Dogwifhat, Popcat Continue to Rise as New Meme Coin Pepe Unchained Hits New Presale MilestoneOctober 16, 2024
Skibidi Toilet Meme Coin Hits New All-Time High – Could Crypto All-Stars Follow Suit After Raising $2.1M?October 14, 2024