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Grayscale Bitcoin Trust

Michael Sonnenshein, <a href="https://news.todayq.com/despite-1-1-billion-gbtc-outflow-grayscale-still-holds-highest-bitcoin/" data-type="post" data-id="37211" target="_blank" rel="noreferrer noopener">Grayscale</a> Investments CEO shared insights into the newly approved BTC ETFs, in a recent interview with CNBC. He expressed skepticism about their survival and siding with the high fees associated with Grayscale’s own product.&nbsp; 
The Grayscale Bitcoin Trust ETF, boasting a massive billion in assets under management, stands as the world’s largest Bitcoin fund. However, the spotlight on the management fees intensified when the U.S. Securities and Exchange Commission greenlit a series of spot bitcoin ETFs.&nbsp; Justifying the high Grayscale fee 
Firms like <a href="https://news.todayq.com/blackrock-reduces-spot-bitcoin-etf-fees-heres-why/" data-type="post" data-id="36756" target="_blank" rel="noreferrer noopener">BlackRock</a> and Fidelity entered the fray, with many issuers initially offering 0% fees for a limited time, eventually settling between 0.2% and 0.4%. In contrast, the Grayscale Bitcoin Trust ETF carries a 1.5% fee, a figure Sonnenshein staunchly defended. He cited the fund’s status as the largest, with a decade-long track record of successful operation. And justified the premium fee as a reason for its diversified investor base. 
“Investors are weighing heavily things like liquidity and track record and who the actual issuer is behind the product. Grayscale is a crypto specialist. And it has really paved the way for a lot of these products coming through,” explained Sonnenshein during an interview at the World Economic Forum in Davos. Sonnenshein’s prediction of the BTC ETF market 
Sonnenshein argued that <a href="https://news.todayq.com/binance-offers-zero-fees-on-xrp-doge-eth/" data-type="post" data-id="34939">lower fees</a> from other ETFs were a tactic to attract investors, emphasizing that these products lacked a substantial track record. He suggested that such fee incentives might raise questions about the long-term commitment of these issuers to the asset class. “I think from our standpoint, it may at times call into question their long-term commitment to the asset class,” Sonnenshein stated. 
Looking ahead, the Grayscale CEO was doubtfull about the sustainability of all 11 recently approved spot Bitcoin ETFs. He predicted that only two to three might garner enough assets under management to achieve critical mass, while the rest could face withdrawal from the market. 
“I don’t ultimately think that the marketplace will have ultimately these 11 spot products we find ourselves having,” Sonnenshein projected. Grayscale, having established itself as a crypto specialist, aims to distinguish itself in this competitive market. 
While other companies are choosing lower fees to attract investors, Grayscale is sticking with a higher fee because they trust their long history and success in handling the unpredictable crypto markets. 
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Most of the 11 approved Bitcoin ETFs won’t survive, says Grayscale CEO

Todayq News

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