Bitcoin ETFs Haemorrhage $145M as Grayscale Mini Trusts Gain Traction

U.S. spot Bitcoin ETFs saw their largest single-day redemption in over a week on August 10, with investors pulling $145 million from these funds.

This move comes as Grayscale's mini trusts, which offer lower fees and the same underlying exposure, reported notable inflows of $37.06 million into the Bitcoin Mini Trust and $8.59 million into the Ethereum Mini Trust.

The disparity between these two types of products highlights a growing trend in the market: investors are becoming increasingly cost-sensitive and demanding more competitive fee structures from their investment vehicles.

Grayscale's mini trusts, which have an expense ratio of 0.15%, have been designed to recapture dollars lost due to higher fees compared to competitors like BlackRock's IBIT and Fidelity's FBTC, which offer lower or zero management fees.