Grayscale CEO Michael Sonnhenshein has promised to lower the management fee of the company’s spot Bitcoin ETF, whose above-average cost has led to overwhelming outflows in recent months.
“As those markets mature, and as those funds grow, those fees tend to come down, and we expect the same to be true of GBTC,” he said.
“We’re kind of at the end of that first inning now, where the pent-up demand for buying has hopefully been satisfied, the pent up demand for selling has also hopefully been satisfied,” Sonnenshein added.