From Investing.com:

During the annual World Economic Forum event in Davos, Grayscale CEO Michael Sonnenshein discussed the recent approval of spot ETFs for Bitcoin and Grayscale’s high fees in comparison to other issuers. Grayscale’s Bitcoin Trust ETF, with over $25 billion in assets, charges a 1.5% management fee, while others charge 0.2%-0.4%. Sonnenshein believes only two or three spot Bitcoin ETF products will survive in the long run, with others being pushed out.

Grayscale’s Bitcoin Trust has seen an outflow of $2.2 billion, as investors withdraw their Bitcoin following the end of their lock-in period. However, overall inflows into spot Bitcoin ETFs have surpassed $1.2 billion over the past five days. Sonnenshein stated that Grayscale’s long track record of 10 years and status as the largest Bitcoin fund prove their long-term commitment to Bitcoin, contrasting with other issuers new to managing Bitcoin ETFs, who are trying to attract new customers by lowering their fees.

As the Securities and Exchange Commission approved 11 spot Bitcoin ETFs from different issuers, Grayscale’s high management fees of 1.5% have caused concern, especially when other issuers have been charging 0.2%-0.4% for their ETFs. Sonnenshein believes that only two or three spot Bitcoin ETFs will survive in the market, with others being pushed out eventually, and Grayscale’s Bitcoin Trust has seen an outflow of $2.2 billion as investors withdraw their Bitcoin following the end of their lock-in period. Overall inflows into spot Bitcoin ETFs have surpassed $1.2 billion over the past five days, according to Bloomberg data.



Read more: Most of Approved Spot Bitcoin ETFs Will Not Make It: Grayscale CEO By U.Today