⚡ Grayscale Sets Sights on Ethereum ETF Market Leadership
posted 23 Jul 2024
Grayscale launched the Ethereum Mini Trust, offering an introductory zero-fee period (0% commission) for the first 6 months or up to $2 billion. Subsequently, the commission will be 0.15%, the lowest in the market, excluding initial discounts.
The initial capital amounts to about $1 billion in ETH, recently transferred from Grayscale Ethereum Trust, representing around 10% of Grayscale's ETH holdings.
Grayscale's move to impose a high fee (2.5%) on an already billion-dollar-filled fund while launching a new, competitive fund with the lowest fee is quite fascinating.
The company might retain many clients, but bankrupt ones will probably keep selling ETH. Consequently, there's a possibility we'll see volatility similar to that of spot Bitcoin ETFs.
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