While spot ETF approvals continue to remain hot on the agenda, new statements are coming on this subject.
The last statement on this subject came from Grayscale Investment CEO Michael Sonnenshein.
In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Sonnenshein claimed that the majority of the 11 spot Bitcoin ETFs that have received approval from the SEC will likely fail.
The famous CEO, who also made a statement about the high transaction fees of Grayscale Bitcoin ETF, defended the company's ETF product.
Stating that there are important reasons why Grayscale determined the most expensive transaction fee for the ETF, Sonnenshein argued that not all ETFs can survive.
Stating that there are various reasons behind the high ETF transaction fee, such as being the largest Bitcoin fund, having a 10-year history of successful operation, and having a diversified investor base, Sonnenshein continued:
“Grayscale is a crypto expert and we are the largest Bitcoin fund, and that has really led to many of these successful products.
Other ETFs have lower fees because the products lack a track record and their issuers try to attract investors with fee incentives.
However, our product has a history.
Additionally, unlike other ETF companies, we have a very different investor base. “Our investors look at details like liquidity and company history.”
As it is known, while other ETF issuer companies charge transaction fees between 0.2% and 0.4%, Grayscale ETF demands a transaction fee of 1.5%.
*This is not investment advice.