Anthony Scaramucci, a notable figure in the investment world, recently spill Cold water on Grayscale Investments’ plan to launch a “bitcoin mini trust.”
Anthony Scaramucci, a notable figure in the investment world, recently spill Cold water on Grayscale Investments’ plan to launch a “bitcoin mini trust.”
Scaramucci predicts that the initiative will face delays and will transfer a significantly smaller portion of Grayscale Bitcoin Trust (GBTC) assets than anticipated.
“The train has left the station,” he added, expressing strong skepticism about the timing and scale of GBTC’s transition to the recently proposed Grayscale Bitcoin Mini Trust.
The Strategic Pivot of Grayscale
In a bold move to remain competitive, Grayscale Investments filed for a new Bitcoin spot ETF, the Grayscale Bitcoin Mini Trust.
Aiming to address the outflows from its existing GBTC and attract a broader investor base, this new ETF proposes a possibly lower expense ratio.
The initiative aims to reposition Grayscale by offering existing GBTC holders an ETF with lower fees and attracting new investors with a more accessible investment vehicle.
By transferring a portion of bitcoin from GBTC to the new ETF, Grayscale hopes to stem the tide of outflows and reassert its dominance in the cryptocurrency investment space.
GBTC massive outflows
As Guru-Investingreported, Grayscale’s Bitcoin Trust has seen capital outflows worth more than $10 billion. However, Grayscale’s quick response with the introduction of the Bitcoin Mini Trust has already shown signs of stabilizing the hemorrhage.
“Interesting that BTC will be seeded through a non-taxable spinoff of GBTC stock. I love this move,” said ETF expert Nate Geraci. aware in X.
