Grayscale CEO Says Fees on GBTC Bitcoin ETF to Decline as Crypto Market Matures as GBTC Sees $12 Billion Outflows to Competitors' Lower Fees
Benzinga
Benzinga
  • last month
Grayscale CEO Michael Sonnenshein said fees on the firm's flagship Bitcoin ETF GBTC will decrease as the nascent crypto ETF market matures. GBTC has seen outflows of over $12 billion since converting to an ETF in January, partly due to its current 1.5% management fee being higher than competitors. Sonnenshein acknowledged the outflows but expected selling pressure from investors taking profits and forced liquidations from bankruptcies like FTX.
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