In its latest financial filing, Grayscale revealed new details about its new fund “Bitcoin Mini Trust,” which the company said will be listed on NYSE Arca under the abbreviation “BTC” and charge a competitive fee of 0.15%.
This fund was launched for the first time.in marchIt will allow Grayscale to donate some of the coins in its ETF product to smaller funds that charge lower fees without incurring taxes on existing holders. The shares will be automatically distributed to the holders. The release date has not yet been revealed.
Grayscale Plan to donate Bitcoin 63,620 Bitcoin for the fund’s first distribution, or 10% of the Bitcoin held by GBTC at the start of the year, worth nearly $4 billion at current prices, will be traded independently by the two trusts.
Bitcoin Mini Trust’s fees are 0.15%, making it one of the lowest in the industry, slightly lower than Franklin Templeton’s EZBC, although there are fee waivers and other benefits. This complicates the calculation, however. GBTC currently has a 1.5% fee, which is the highest of any Bitcoin ETF on the market.
refer : theblock.co
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