Earlier in March, Grayscale’s CEO Michael Sonnenshein informed CNBC on March 18th that fees for its primary bitcoin ETF would gradually decrease over time, signaling a departure from its previous position defending fees above the market norm.
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Since its conversion into an ETF in early January, Grayscale’s GBTC has experienced outflows exceeding $12 billion, largely attributed to its fees being higher than the industry average. Grayscale is also exploring alternative methods to offer investors more cost-effective avenues to access its bitcoin ETF, such as introducing a “mini” version of its flagship product.
George Tung, a YouTuber, has expressed skepticism regarding the accuracy of the figures presented in Grayscale’s projections concerning the Bitcoin ETF, adding that BlackRock is going to flip Grayscale soon.
