TechFlow news, according to CNBC, Michael Sonnenshein, CEO of Grayscale Investments, said that most of the 11 approved spot Bitcoin ETFs will not survive.
He also responded to criticism over Grayscale's Bitcoin Trust ETF fees (1.5%), which are significantly higher than those of most other approved ETFs (between 0.2% and 0.4%), stating that GBTC is the largest Bitcoin fund with a 10-year track record of "successful operations" and a diversified investor base.
Sonnenshein noted that the reason other ETFs have lower fees is because these products "lack a performance history," and issuers are trying to attract investors through fee incentives. He believes only two or three spot Bitcoin ETFs may achieve "some critical mass" in assets under management, while the rest could eventually be withdrawn from the market.
