Competition helps everyone, and may entice more and more high wealth investors into crypto.
These trusts are really aimed for big investors but as they get involved we all benefit from the effect on Bitcoin.
Topic: 2021-02-09 - BLOCKFI Bitcoin Trust to compete with Grayscale (Read 66 times)
"6 to 12 months" is a long time, but this is certainly welcome news. The SEC is going to run out of reasons to disallow and ETF because there will be multiple vehicles to own bitcoin on the US markets.
You are right, the fee cut is a good thing. Competition helps everyone.
You are right, the fee cut is a good thing. Competition helps everyone.
This is big news IMO purely because it brings Grayscale into a potential battle.
Blockfi today announced it is to provide a Bitcoin trust much the same as the
biggest player Grayscale does at the moment. Blockfi plan to undercut Grayscale by 0.25%
Source : https://www.coindesk.com/blockfis-bitcoin-trust-takes-aim-at-gbtc
Blockfi today announced it is to provide a Bitcoin trust much the same as the
biggest player Grayscale does at the moment. Blockfi plan to undercut Grayscale by 0.25%
Source : https://www.coindesk.com/blockfis-bitcoin-trust-takes-aim-at-gbtc
Quote
Crypto lender BlockFi has launched its bitcoin trust with an annual fee that falls 0.25% below
what industry-leader Grayscale Bitcoin Trust (GBTC) charges investors.
With a 1.75% management fee, the fund started taking subscriptions last Friday and the fund
has nearly $30 million in assets under management, according to its website. Roughly six to
12 months from now, the trust should be available on over-the-counter markets making it
tradable through brokerage accounts, Prince said.
The company’s joins Bitwise and Osprey Funds in competing with Grayscale’s dominance
in the bitcoin trust market. (Grayscale is owned by CoinDesk parent company Digital Currency Group).
what industry-leader Grayscale Bitcoin Trust (GBTC) charges investors.
With a 1.75% management fee, the fund started taking subscriptions last Friday and the fund
has nearly $30 million in assets under management, according to its website. Roughly six to
12 months from now, the trust should be available on over-the-counter markets making it
tradable through brokerage accounts, Prince said.
The company’s joins Bitwise and Osprey Funds in competing with Grayscale’s dominance
in the bitcoin trust market. (Grayscale is owned by CoinDesk parent company Digital Currency Group).
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