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Grayscale’s new Bitcoin and Ether exchange-traded funds have raised over $750m in inflows. The affordable ‘Mini Trusts’, distinct from Grayscale’s pricier older funds, charge a 0.15% management fee. The firm also manages funds for other tokens and accounts for six of the top 10 most successful ETF launches this year.

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Grayscale’s latest Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) have really hit the jackpot, racking up over $750 million in net inflows, as they announced on October 29.

The Grayscale Bitcoin Mini Trust (BTC) and Grayscale Mini Ethereum Trust (ETH) came to the scene in July, moving out of Grayscale’s older BTC and ETH funds. These July move outs separated the budget-friendly Mini Trusts from Grayscale’s older, pricier Bitcoin and Ethereum funds.

With a management fee of only 0.15% each, these Mini Trusts are the most affordable of the cryptocurrency ETFs out there. The head of distribution and partnerships at Grayscale, John Hoffman, has said in a statement that the success of BTC and ETH so far highlights the strong client demand for affordable cryptocurrency ETPs.

There was a bit of rivalry as spot BTC and ETH ETFs launched in January and July, respectively. A lot of the recently launched spot crypto ETFs temporarily slashed or lowered their fees, typically for six months to a year. Grayscale’s older trusts, GBTC and ETHE, were exceptions to this as they charged 1.5% and 2.5% management fees.

Grayscale, the world’s biggest crypto fund manager with over $20 billion managed, also manages funds for other tokens like Aave (AAVE) and Chainlink (LINK).

Cryptocurrency funds made up 13 of the 25 largest ETF launches in 2024 by inflows through August. Bitcoin has dominated the ETF scene this year, accounting for six of the top 10 most successful launches, according to Nate Geraci, president of The ETF Store.

Source: Cointelegraph