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Grayscale Bitcoin and Ethereum Mini Trusts Raise $750 Million Three Months After Launch
2024-10-30 06:03
Odaily News Grayscale reported on October 29 that its Bitcoin and Ethereum Mini Trusts (codenames BTC and ETH, respectively) have attracted more than $750 million in net inflows since their launch. "The success of BTC and ETH to date symbolizes the strong demand from customers for low-cost crypto ETPs," said John Hoffman, managing director and head of distribution and partnerships at Grayscale, in a statement. Both the Grayscale Bitcoin Mini Trust (BTC) and the Grayscale Mini Ethereum Trust (ETH) were launched in July, spun off from Grayscale's old BTC and ETH funds, respectively. The July spin-off distinguished the low-cost Mini Trusts from Grayscale's older and higher-cost Bitcoin and Ethereum funds (GBTC and ETHE). The management fee for the Mini Trusts is 0.15% each, excluding promotional fees, the lowest base fee charged among spot cryptocurrency ETFs. (Cointelegraph)