_grayscale-ceo-says-fees-on-gbtc-bitcoin-etf-to-decline-as-crypto-market-matures-as-gbtc-sees-3612-billion-outflows-to-co.jpg "Grayscale CEO Says Fees on GBTC Bitcoin ETF to Decline as Crypto Market Matures as GBTC Sees $12 Billion Outflows to Competitors' Lower Fees from jav mature Video Screenshot Preview")
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✓ Published: 20-Mar-2024
👁 View: 740K times
✓ Published: 20-Mar-2024
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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.
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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