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Grayscale announced that its newly launched Bitcoin Mini Trust had amassed over $4 billion in net assets since its inception approximately six months ago. The asset manager unveiled this achievement in a statement on the X platform on Feb. 6.
Grayscale introduced the Bitcoin Mini Trust and its counterpart, the Mini Ethereum Trust, in July 2024. These products were spun off from the company’s older and more expensive Bitcoin and Ethereum funds, the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE), respectively.
The separation aimed to offer investors a low-cost alternative, with each Mini Trust levying a base management fee of 0.15%, excluding any promotions, making them the most competitively priced spot cryptocurrency ETFs available.
The fee structure of spot cryptocurrency ETFs has been a focal point in the industry, with most new offerings temporarily waiving or reducing fees to attract investment. These fees typically range from 0.15% to 0.25% of assets under management annually. In contrast, Grayscale’s older funds, GBTC and ETHE, charge higher fees of 1.5% and 2.5%, respectively.
Grayscale’s expansion did not stop with the Mini Trusts. The firm also manages a variety of alternative cryptocurrency funds, some of which may transition to ETFs in 2025. Notably, in January, Grayscale launched a fund dedicated to Dogecoin, and in December, it rolled out funds for the governance tokens of Lido and Optimism, LDO and OP.
Additionally, Grayscale has made strides to diversify its offerings further. On Oct. 29, NYSE Arca filed a request with the US Securities and Exchange Commission to list the Grayscale Digital Large Cap Fund, a proposed index ETF by Grayscale that would hold a varied portfolio of digital currencies.
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