Fees will be reduced over the next few months, he said. Sonnenschein noted that typically, when new products are in the early stages of market adoption, fees tend to be high, but then come down.
The CEO of Grayscale also said that the outflow of funds from the Grayscale Bitcoin Trust (GBTC) amounted to $12 billion. However, this did not come as a surprise to the company. Sonnenschein noted that the fund continues to trade liquidly in the market, with a diversified shareholder base.
Let us remind you that Grayscale plans to offer investors another fund – Grayscale Bitcoin Mini Trust. The new ETF will have significantly lower fees than GBTC. The company is currently awaiting approval from the US Securities and Exchange Commission (SEC) to launch a new exchange-traded fund on the market.
Earlier, the largest American crypto exchange Coinbase called on the US Securities and Exchange Commission (SEC) to approve Grayscale’s application to launch the Grayscale Ethereum Trust exchange-traded fund.
Source: Bits
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