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The crypto investment management company has launched a new product called the Grayscale Bitcoin Mini Trust, which has the ticker $BTC.Months ago, Grayscale filed for the Mini Trust fund with the United States Securities and Exchange Commission . The firm describes this spin-off product as a new fund coined from an existing and possibly larger one. Following the creation, both funds will exist independently in the financial market.
The Grayscale Bitcoin Mini Trust will be primarily traded on the securities exchange, NYSE Arca. Coinbase Custody Trust Company will be a digital asset custodian for the new ETF fund, while Foreside Fund Services will be the marketing agent.the most outflows year-to-date, as investors pull millions of dollars worth of BTC nearly every day. This steady outflow is partly attributed to the company’s expensive trading fee of 1.5%, the highest among Bitcoin ETF issuers in the country.
With its latest product, which has a trading fee of 0.15%, Grayscale is changing the narrative and positioning itself as the cheapest Bitcoin ETF issuer. In contrast, most financial firms offering the Bitcoin ETF product to U.S. investors implement a fee between 0.19% and 0.25%. Although the market data in the coming weeks may say otherwise, Grayscale’s new ETF product may propel its position in the Bitcoin ETF market to new frontiers.Bitcoin Inflows Hit $942 Million as Investor Confidence Grows: CoinSharesOne Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.
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