Grayscale Announces Major Fee Changes for Ethereum ETF Launch
Grayscale, one of the leading asset managers in the cryptocurrency space, has made a significant announcement just days before the launch of its Ethereum ETF. The company has decided to make major changes to its fee structure, making its Ethereum mini-trust the cheapest among its competitors in the market.
Earlier this week, Grayscale had announced a staggering 2.5% fee for its Ethereum ETF, which was deemed to be 10 times more costly than its competitors. This move received criticism from analysts who pointed out that Grayscale had not learned from the outflows experienced by its spot Bitcoin ETFs in the past six months.
In response to the backlash, Grayscale has now reduced the fees for its Ethereum mini-trust to just 15 basis points. Additionally, the company has announced a complete fee waiver for up to $2 billion in inflows or six months, whichever comes first.
This fee revision has positioned the Grayscale Ethereum mini-trust as the cheapest among all ETH ETF issuers currently in the market, garnering praise from industry experts. Nate Geraci, President of ETF Store, commended Grayscale for taking this strategic step and competing effectively with other market players.
The announcement comes at a time when the price of Ethereum has remained stable, trading around $3,400 after reaching a high of $3,500 earlier in the week. Investors are eagerly awaiting the launch of the Ethereum ETF next week, with cautious optimism.
In addition, Ethereum options with a notional value of $0.48 billion are set to expire today, with a bullish market sentiment indicated by a put/call ratio of 0.36. The max pain point for Ethereum currently stands at $3,150.
Overall, Grayscale’s fee waiver and revised fee structure for its Ethereum mini-trust have been seen as a positive move that could potentially attract more investors to the platform. As the countdown to the ETF launch continues, all eyes will be on Grayscale to see how this strategic shift impacts its market position.
