Grayscale Bitcoin and Ethereum Mini Trusts Raise $750 Million Three Months After Launch

Odaily Planet Daily Report: Grayscale announced on October 29 that its Bitcoin and Ethereum Trusts (with tickers BTC and ETH respectively) have attracted over $750 million in net inflows since their launch. Grayscale's Managing Director and Head of Distribution and Partnerships, John Hoffman, said in a statement: "The success of BTC and ETH so far symbolizes strong client demand for low-cost crypto ETPs." Grayscale Bitcoin Trust (BTC) and Grayscale Ethereum Trust (ETH) were both launched in July, spun off from Grayscale's previous BTC and ETH funds. The July spin-offs differentiated the low-cost mini-trusts from Grayscale's older and more expensive Bitcoin and Ethereum funds (GBTC and ETHE). The management fees for the mini-trusts are 0.15%, excluding any promotional costs, which are the lowest basic fees charged in the spot cryptocurrency ETF market. (Cointelegraph)