Benzinga
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Grayscale's $9 Billion Ether Trust Now a Convertible ETF, Facing Competition from Financial Giants with Lower Fees.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Grayscale has spent years building a trust holding over $9 billion worth of Ether,
00:06which has now been converted to an ETF. Large financial firms like Fidelity, Franklin,
00:11Templeton, BlackRock, and Invesco have launched competing spot Ether ETFs,
00:15posing a challenge to Grayscale's lead. Grayscale's Ether ETF charges a 2.5% fee,
00:21nearly 10 times more than their competitors' fees. On the first day of trading, spot Ether ETFs saw
00:26over $1 billion in volume, while Grayscale's Ether ETF saw $485 million in redemptions.
00:33Grayscale is launching a mini-Ether ETF with the lowest fee to try and better compete.
00:37For all things money, visit Benzinga.com.

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