Grayscale Investments' bitcoin mini launched today under the desirable ticker symbol BTC and roughly $1.8 billion in assets under management.
Why it matters: The crypto native asset manager's strategy to compete alongside the likes of BlackRock and Fidelity has come to fruition, with the debut of its mini products that comes with mini prices.
Zoom in: As with Grayscale's Ethereum Trust (ETHE), and its mini (ETH), some of the assets in the Bitcoin Trust (GBTC) seeded the mini (BTC).
👆That's how they're starting out of the gate with billions.
The mini ETF will charge a fee of 0.15%, compared to GBTC's 1.5% fee.
What we're watching: While its newly converted big-brother bitcoin and ether funds have seen outflows, their newest mini funds change the race to the top among asset managers.
