On Wednesday, Grayscale continued building its potent roster of crypto ETFs with the launch of the Grayscale Bitcoin Mini Trust (BTC ).
With a net expense ratio of 0.15%, BTC operates as a low-cost method to access bitcoin’s performance. This can serve as an efficient means for investors wanting to add bitcoin exposure to their portfolio, without the difficulties of directly owning the asset.
“The Grayscale team has believed in Bitcoin’s transformative potential since GBTC’s initial launch in 2013. We are excited to launch Grayscale Bitcoin Mini Trust to help further lower the barrier to accessing Bitcoin in a SEC regulated investment vehicle,” noted David LaValle, senior managing director and head of ETFs at Grayscale. “Grayscale is proud to continue innovating in the ETP wrapper at the benefit of our investors and the broader market, and we remain unwaveringly committed to championing the opportunities of Bitcoin and the entire crypto asset class.”
Low-Cost Option
Grayscale refers to BTC as a “spin-off” product of its initial spot bitcoin fund, the Grayscale Bitcoin Trust (GBTC ). Ten percent of the bitcoin held by GBTC has been transferred over to BTC ahead of its launch.
As a low-cost alternative to GBTC, BTC can provide investors with fractional exposure to changes in bitcoin’s value. The fractional exposure may be highly beneficial at the time. That’s because bitcoin has enjoyed an overall strong price performance. According to CoinDesk, the price of bitcoin is currently about $66,500.
This is not the first crypto Mini Trust ETF that Grayscale has rolled out. Just last week, the Grayscale Ethereum Mini Trust (ETH ) entered the market. That fund has already amassed over $150 million in net flows.
See More: VIDEO: ETF of the Week: Grayscale Ethereum Mini Trust
“Grayscale has been a pioneer in cryptocurrency investing for years and has a strong ETF presence,” noted Todd Rosenbluth, head of research at VettaFi. “It’s great to see them offer a lower cost Bitcoin ETF to appeal to advisors.”
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