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Grayscale, managing $27 billion in assets, has announced a reduction in its management fee from 2% to 1.5% for its upcoming spot bitcoin ETF, as per their latest S3 filing. The company also introduced Jane Street, Virtu, Macquarie Capital, and ABN AMRO Clearing as new authorized participants. Grayscale's CEO, Michael Sonnenshein, explained that the fee adjustment was based on comprehensive research of similar global ETFs. He refrained from commenting on the fees of competitors like BlackRock, which are set to begin at 0.20%. Sonnenshein observed a competitive trend of fee reductions among new ETF issuers in the U.S. trying to attract investors.
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In 2023, the Solana developer ecosystem experienced notable growth, with over 2500 monthly active developers and a significant increase in developer retention. Improvements in onboarding, educational programs, and global expansion efforts contributed to this growth. More than half of the developers now have over three years of experience, enhancing the quality of applications on the network. Despite these advancements, the ecosystem continues to focus on improving tooling, documentation, and security, with the Solana Foundation actively supporting these developments through grants and initiatives.
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