Grayscale debuts Bitcoin Mini Trust with 0.15% fees to revitalize its ETF offerings

Grayscale launches the “Grayscale Bitcoin Mini Trust,” a cheaper Bitcoin trust with a 0.15% charge. This launch attempts to strengthen its status amid market instability and the Bitcoin halving event.

After a week of net outflows, U.S. spot Bitcoin ETFs had positive inflows on Monday, April 22, 2024. Furthermore, these ETFs received $62 million in inflows that day, according to SoSoValue.

The Fidelity Wise Origin Bitcoin Fund (FBTC) led with $34.83 million inflow, while other funds performed well. Even while other stocks were up, the Grayscale Bitcoin Trust ETF (GBTC) lost $35 million. Overall, spot Bitcoin ETFs had a net positive inflow, showing investor confidence is recovering.

As of April 23, 2024, BlackRock’s iShares Bitcoin Trust ETF (IBIT) has a 69-day net inflow run, entering the top 10 for ETFs. IBIT received $223.4 million daily in April, peaking at $849 million.

FBTC hasn’t equaled IBIT’s performance, but it still has favorable tendencies, with an average April inflow of $118 million despite days without inflows.

To address unfavorable trends, Grayscale launched its low-cost Bitcoin Mini Trust, which drastically lowers its primary fund costs.

This will let Grayscale compete with BlackRock and Fidelity’s cheaper products. Grayscale launched the Bitcoin Mini Trust to reclaim market dominance and attract new investment amid fierce Bitcoin ETF competition.