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The same year, Grayscale Bitcoin Trust (OTCQX: GBTC) began trading over-the-counter on the OTCQX market, becoming the first publicly traded bitcoin fund in the United States. The company charged higher than average fees compared to similar exchange-traded funds (ETFs), but said the fees were to cover the costs of trading bitcoin.
GBTC - which in January received approval to convert from a trust to an ETF - currently has higher fees than its peers, one of the key factors in drawing investors to rival ETFs, Reuters has reported.
One of the most notable things about the Grayscale Bitcoin Mini Trust ETF is that it has one of the lowest fees of Bitcoin ETFs, charging just 0.15%, or $1.50 per $1,000 invested.
The crypto-native fund manager Bitwise squeaked in with the lowest fee, 0.24%, while the ETF and mutual fund manager VanEck set the second-lowest overall fee at 0.25%, ... Grayscale, which paved ...
Lastly, Grayscale recently submitted an application to the Securities and Exchange Commission (SEC) for Cardano's first spot-price ETF. Approval for that ETF might draw in more institutional ...
Grayscale was the world's largest asset manager for digital currency, as of December 2021, with more than $50 billion in assets under management. [7] Grayscale also manages the Grayscale Bitcoin Investment Trust (OTCQX: GBTC), which was the first publicly quoted security solely invested in the price of bitcoin upon its launch in 2013. [3]
The biggest wild card in the mix is Grayscale, whose high fees could quickly erode its early advantages. The new Bitcoin ETF industry can’t have 13 winners. So who will lose?
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