A leading digital asset investment manager Grayscale’s CEO Michael Sonnenshein said in a recent interview with CNBC: Bitcoin The exchange-traded fund (ETF) expressed its belief that fees associated with GBTC will gradually decline as the market matures.
Grayscale CEO Believes Bitcoin ETF Fees Will Fall Over Time
This claim comes as GBTC is struggling with significant outflows totaling $12 billion since January.
These exits were attributed to relatively high wages compared to its competitors. GBTC, which has the largest asset volume among Bitcoin ETFs listed in the United States, faces challenges due to its fee structure.
“I will be happy to confirm that over time, as this market matures, GBTC fees will decrease,” Sonnenshein said.
Sonnenshein detailed the reasons behind the exits, citing a variety of factors, including investors looking to realize gains on their portfolios, arbitrageurs exiting the fund, and individuals unwinding positions linked to bankruptcies through forced liquidation.
Sonnenshein’s remarks shed light on Grayscale’s perspective on the evolving landscape of Bitcoin ETFs and the adjustments expected to occur in response to market dynamics.
As the crypto market continues to mature, the expectation that fees on GBTC will decline reflects a broader trend of increased competition and investor demand for more affordable investment options in the digital asset space.
*This is not investment advice.
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