GBTC - Bitcoin ETF Fees: Grayscale Hints At Future Cuts But There's A Catch | Benzinga
Grayscale CEO Michael Sonnenshein on Friday shared plans for the company’s Bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust (OTC:GBTC), to eventually reduce its management fees.
What Happened: Currently, GBTC charges the highest fees among all U.S. spot Bitcoin ETFs at 1.5% annually, a stark contrast to the 0.30% average of its competitors.
Sonnenshein indicated in an April 10 on-stage interview at Canaccord Genuity's Digital Assets Symposium that fee reductions would occur as the market for Bitcoin products matures and consolidates: “That means fees also come down over time. We'll reduce fees on GBTC, and that also means that we're kind of at the end of that first inning of ...