Grayscale CEO: GBTC Removes Barriers as Bitcoin ETF Issuer, 1.5% Fee is Reasonable
Gray Investment CEO Michael Sonnenshein accepted an interview with Bloomberg, stating that the 1.5% fee charged by Gray is reasonable.
Table of Contents:
Toggle
GBTC Clears Obstacles for Multiple Bitcoin Spot ETFs
Gray CEO: GBTC is Worth the 1.5% Transaction Fee
GBTC Clears Obstacles for Multiple Bitcoin Spot ETFs
Michael Sonnenshein stated:
The high trading volume of GBTC is attributed to investor choice. I have heard many expressions of gratitude from the community towards Gray. The GBTC lawsuit helped clear obstacles for Bitcoin ETFs, and GBTC has continuously optimized transparency, operations, mechanisms, and other aspects over the past 10 years, enabling other ETF issuers to learn from it.
Advertisement – Continue reading below
Michael Sonnenshein also believes that GBTC has achieved a certain level of compatibility with investors.
Gray CEO: GBTC is Worth the 1.5% Transaction Fee
The Bloomberg host was curious about how Gray plans to respond when the transaction fees for multiple Bitcoin spot ETFs are lower than GBTC.
Michael Sonnenshein explained:
As an investor, when you make choices among these products, cost is a factor to consider, as well as the asset management company and the issuer behind it. Scale, liquidity, and past performance should also be taken into account. From a market perspective, I believe GBTC sets itself apart through these factors, and we truly believe it is worth the 1.5% transaction fee.
(
Hidden Costs of Bitcoin Spot ETFs You Should Know, Overview of BTC Investment Methods and Fees
)
After transforming into a spot ETF, GBTC has become the top trading volume leader. However, many analyses believe this is due to the two-year lock-up period before the transformation. Data compiled by BitMEX Research also shows that GBTC is the only Bitcoin ETF with outflows of funds.
GBTC
Grayscale
Grayscale Investments
Bitcoin Spot ETF
Gray
Further Reading
Bitcoin Spot ETF Trading Volume Approaching Billions, Europeans Changing Their Purchases? Holding Over 60,000 BTC
Bitcoin Dipped Below 42K Multiple Times, Bulls Liquidated: GBTC Funds Outflow, Experts Still Hoping for Long-Term Supply Shortage
