CrossTower Launches Bitcoin Fund to Compete With Grayscale’s GBTC
The fund is starting out with $20 million in AUM, largely from family offices, and touts lower fees than the Grayscale Bitcoin Trust.
The crypto markets data company said ETFs would solve the problem.
The fund, based in Labuan, Malaysia, aims to open access to digital assets for Southeast Asian institutional investors.
Morgan Stanley’s new bitcoin product is already one of the largest funds of its kind by investor count.
The California fund manager joins a crowded field of firms hoping to dethrone Grayscale's GBTC.
The fund is structured similarly to the Grayscale Bitcoin Trust, but aims to compete with lower fees.