Grayscale to Introduce Low-Fee Spinoff of Bitcoin ETF

Grayscale, known for its spot bitcoin ETF with the highest fees, recently disclosed plans to launch a spinoff version of the fund with a fee of 0.15%, making it the lowest-cost option among its offerings, as outlined in its latest filing.

The existing Grayscale Bitcoin Trust (GBTC) carries a hefty 1.5% fee. However, with the introduction of Grayscale’s Bitcoin Mini Trust (BTC), the company intends to transfer 10% of GBTC assets to the new trust.

Share issuance of the BTC trust will occur automatically for GBTC shareholders, according to the filing.

The move aims to provide GBTC investors with a more competitively priced alternative in line with other bitcoin ETFs approved earlier in January.

Currently, the Franklin Bitcoin ETF (EZBC) boasts the lowest fee at 0.19% among spot bitcoin ETFs.