Grayscale Reveals 0.15% Fees For Its Bitcoin Mini Trust ETF
Grayscale, a Bitcoin ETF provider, has shared details about its spin-off fund, the Bitcoin Mini Trust (BTC). The fund will have a competitive fee of 0.15%, lower than the 1.5% fee of its parent product, GBTC. The mini fund will receive 63,204 bitcoin, or 10% of GBTC's existing assets. Shares of the BTC trust will be automatically issued and distributed to GBTC shareholders. The spinoff is a non-taxable event for GBTC shareholders, meaning they won't have to pay capital-gains tax to transfer into the new fund. The Bitcoin Mini Trust was created to offer GBTC investors a lower fee option in line with other bitcoin ETFs approved in January. Grayscale's current assets under management are around $19.6 billion, while its closest competitor, BlackRock’s IBIT fund, has over $17.5 billion.
