As a seasoned researcher with a deep interest in the cryptocurrency space, I’ve closely followed Grayscale’s journey and its impact on the Bitcoin ETF market. With Grayscale’s Bitcoin Mini Trust set to launch on July 31, I am excited about the potential implications for both Grayscale and the crypto industry as a whole.
The Bitcoin Mini Trust by Grayscale, boasting the sought-after BTC ticker, is set to debut on July 31.
Based on the insights shared by renowned ETF analyst James Seyffart, it can be inferred that the Bitcoin and Ethereum mini trusts are expected to become active prior to the end of this month.
The cost for using both products will be set at a low fee of only 0.015 percent, making them the most affordably priced ETFs in comparison.
Last year, Grayscale successfully argued its case against the SEC in a groundbreaking lawsuit, paving the way for approved spot crypto ETFs in the US market.
Grayscale’s GBTC emerged as a significant bearish influence, primarily due to its large-scale redemptions. A major reason for these outflows was the high fee of 1.5% attached to it.
After enduring numerous unfavorable news articles for several months, Grayscale may now have its moment in the sun with the introduction of a “lighter version” of its product. This lower-cost spin-off could make Grayscale a formidable contender in the market that has been primarily ruled by BlackRock, the financial giant.
It’s intriguing to observe Grayscale’s inflows, as the Bitcoin Mini Trust is set to rank sixth among spot Bitcoin ETFs in terms of assets, making it an economical option as well. (Nate Geraci, President at The ETF Store)
In March, Grayscale unveiled a new fund with an attractive ticker symbol, marking its debut for offering tax-free investment access to the foremost cryptocurrency to investors.
Bitcoin ETFs expand their streak of inflows
During this period, Bitcoin ETFs experienced ten successive days of investment inflows up until July 18, extending their remarkable run.
On Thursday, a total of $84.8 million flowed into these particular products. BlackRock’s IBIT recorded an inflow of $102.7 million, which more than made up for the $22.5 million in outflows from Grayscale’s GBTC.
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2024-07-19 18:26