The firm submitted the application to the US Securities and Exchange Commission on March 12. The Grayscale Bitcoin Mini Trust is expected to have a competitive fee and will come from a spinoff from GBTC, commented ETF analyst James Seyffart. The fee for the new fund was not disclosed, neither was the percentage of GBTC that will be spun off, “but pretty sure this will be a non-taxable event for a chunk of those shares to get into a cheaper and cost-competitive product,” said Seyffart. Grayscale currently charges an annual management fee of 1.50%, which is considerably higher than the newly launched spot Bitcoin ETFs.
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