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Zach Pandl, head of research at Grayscale Investments, discusses the asset manager's new spot bitcoin ETF with a lower fee than GBTC as Grayscale's Bitcoin Mini Trust ETF started trading in the U.S. on Wednesday. He also explains whether Grayscale could file an application for a spot solana ETF in the near future.
This weekly update tracks some of the largest cryptocurrencies by market share: bitcoin and ether. While both are considered to be high-risk when it comes to investing, the two have foundational differences that investors should know.
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.
Grayscale's Bitcoin Trust (GBTC), the second-largest spot bitcoin exchange-traded fund (ETF) by assets, lost 11% of its value Tuesday. But investors shouldn't worry, Grayscale said.
Bitcoin is an anti-inflationary asset. Investors can choose the Grayscale Bitcoin Trust ETF to minimize the risks of owning Bitcoin outright.
The price of GBTC moves according to well-defined cycles driven by the halving and global economic trends. The potential rate cut in September could boost the demand for Bitcoin, as has happened in the past. The weakness of the dollar and the current global economic and political turmoil could stimulate the price of GBTC, following a parallel with the price of gold.
The first nine spot ether exchange-traded funds in the U.S., which began trading on Tuesday, share many similarities with their bitcoin counterparts while differing in some aspects.
On Tuesday, Grayscale Investments staked its claim in the spot ether ETF race with the launch of the Grayscale Ethereum Trust (ETHE) and the Grayscale Ethereum Mini Trust (ETH) on the NYSE Arca.
STAMFORD, Conn., July 19, 2024 (GLOBE NEWSWIRE) -- Grayscale Investments®, the world's largest crypto asset manager*, offering more than 20 crypto investment products, today announced that it has set a record date of July 30, 2024 (the “Record Date”) for the initial creation and distribution of shares of Grayscale Bitcoin Mini Trust (the “BTC Trust”) to shareholders of Grayscale Bitcoin Trust (Ticker: GBTC) (“GBTC”) (referred to as the “Initial Distribution”).
Bitcoin ETF fees can significantly impact long-term returns. The Grayscale Bitcoin ETF is very similar to other Bitcoin ETFs nowadays but with significantly higher annual fees.