Grayscale Investments CEO Michael Sonnenshein accepted an interview with Bloomberg, where he stated that Grayscale’s 1.5% fee is reasonable.
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GBTC Clears Obstacles for Multiple Bitcoin Spot ETFs
Grayscale CEO: GBTC Justifies 1.5% Transaction Fee
GBTC Clears Obstacles for Multiple Bitcoin Spot ETFs
Michael Sonnenshein stated:
The high trading volume of GBTC is due to investor choice. I have heard many expressions of gratitude from the community towards Grayscale. The GBTC lawsuit helped clear obstacles for Bitcoin ETFs, and GBTC has continuously improved transparency, operations, and mechanisms over the past 10 years, which other ETF issuers can learn from.
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Michael Sonnenshein also believes that GBTC has achieved a certain level of alignment with investors.
Grayscale CEO: GBTC Justifies 1.5% Transaction Fee
The Bloomberg host was curious about how Grayscale plans to respond when the transaction fees for multiple Bitcoin spot ETFs are lower than GBTC’s.
Michael Sonnenshein explained:
As an investor, when you make choices among these products, fees are a consideration. The asset management company and the issuer behind it are also considerations. Scale, liquidity, and past performance should also be taken into account. From a market perspective, I believe GBTC differentiates itself through these factors, and we genuinely believe it justifies the 1.5% transaction fee.
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Hidden fees of Bitcoin spot ETFs that you must know, overview of BTC investment methods and fees
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After its transformation into a spot ETF, GBTC became the leader in trading volume. However, many analysts believe this is due to the two-year lock-up period before GBTC’s transformation. Data compiled by BitMEX Research also shows that GBTC is the only Bitcoin ETF experiencing outflows.
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Grayscale
Grayscale Investments
Bitcoin spot ETF
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Further Reading
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