Grayscale Launches Bitcoin Mini Trust, Affordable For Investors

Grayscale launched Bitcoin Mini Trust (Photo; Doc. Bitfinance News)

JAKARTA - Grayscale Investments, a crypto investment company, recently introduced its newest product, the Grayscale Bitcoin Mini Trust, on the New York Stock Exchange (NYSE). This product is designed as a more affordable alternative for investors looking to get exposure to Bitcoin.

Quoted from Coinspeaker, John Hoffman, Managing Director Grayscale, expressed optimism for the future of crypto Exchange Trade Funds (ETF) regulations in the United States. With the number of Americans who own cryptocurrencies reaching around 53 million people, regulatory topics are increasingly becoming a concern at the highest government level. Hoffman stressed the need for a clearer regulatory framework for digital assets, and he believes that this change will open up more comprehensive market options, including derivative and structured products.

Grayscale Bitcoin Mini Trust (BTC Trust) is a smaller and more liquid version of the Grayscale Bitcoin Trust (GBTC). This product is traded with a ticker BTC and has a ratio of 1:1 to GBTC. That is, each GBTC stock can be exchanged for a single BTC Trust stock. In addition, the management cost of the BTC Trust is much lower, only 0.15% compared to 1.5% on GBTC. With these features, the BTC Trust is one of the most affordable spot Bitcoin ETF products in the market.

However, GBTC experienced a decline of 11%. This decline is related to the 10% allocation of GBTC value into the BTC Trust. Since its conversion to the ETF spot in January, GBTC has recorded a net outflow of 18.94 billion US Dollars (approximately IDR 307 trillion).

Interestingly, the spot's Bitcoin ETF has collected a net inflow of 17.69 billion US Dollars (approximately IDR 287 trillion) since its launch. This shows a significant interest from investors in Bitcoin-based products.

Not only focusing on Bitcoin, Grayscale has also launched a Grayscale Ethereum Mini Trust (ETH Trust) traded on the NYSE Arca along with other Ethereum spot ETF products. Since its launch, the ETH Trust has recorded a net inflow of 181.36 million US Dollars (around Rp2.9 trillion) until July 30.

With the launch of these new products, Grayscale provides wider and more affordable access for investors to engage in the digital asset market.