Grayscale CEO says most of the 11 approved bitcoin ETFs won't survive, defends highest fees in industry
Publishing timestamp: 2024-01-19 06:12:46
Summary
Grayscale Investments CEO, Michael Sonnenshein, stated that most of the approved bitcoin exchange-traded funds (ETFs) won't survive. He defended the 1.5% fee charged by Grayscale Bitcoin Trust ETF, stating that it is the largest bitcoin fund with a successful track record and a diversified investor base. Sonnenshein believes that other ETFs with lower fees may not have a long-term commitment to the asset class. He predicts that only two to three spot Bitcoin ETFs will gain significant assets under management, while others may be pulled from the market.
Sentiment: POSITIVE
Tickers: BTC.BS=-USS,
Keywords: technology, breaking news: davos, grayscale bitcoin trust (btc), business news, markets, politics, davos, bitcoin, switzerland, cryptocurrency, bitcoin/usd bitstamp, world economy, exchange-traded funds, davos - world economic forum, banks,