The company announced they now have $15.5 billion worth of bitcoin, eth, xrp, litecoin and bitcoin cash with nearly 80% of it in btc and 13% in eth.
They are now to lower their management fees from 3.0% to 2.5% with Michael Sonnenshein, Managing Director of Grayscale Investments, stating:
“Grayscale has been the market leader for digital currency investment products since our inception, and we’re focused on bringing our clients products that provide access, transparency, and exposure, all supported by best-in-class service providers.
It is extremely important to us that as our industry continues to mature and grow, Grayscale continues to lead in client service and offerings.”
They have been facing increasing competition with numerous Exchange Traded Products (ETPs) launching in Europe this year.
In Canada, ethereum and bitcoin ETFs have been going out on the Toronto Stock Exchange, with a new bitcoin fund launched just this Friday.
They have also been facing competition in America with Bitwise effectively copying them to launch a crypto index fund (technically trust) which has seen significant interest trading at considerable premiums.
All of these products are making it easier and easier for potential bitcoin and ethereum investors to enter the market through stock traded products, with now more competitive offerings where fees are concerned potentially developing.
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