Ali Martinez, a cryptocurrency trader and analyst who goes by @ali_charts on the social media network X/Twitter, has released a snapshot illustrating how the Bitcoin amounts obtained by
Grayscale CEO predicts crash for majority of BTC ETFs
Michael Sonnenshein, the CEO of Grayscale, expressed his doubts about the long-term viability of all 11 spot-based Bitcoin ETFs in an interview with CNBC last week during the annual World Economic Forum gathering in Davos.
Sonnenshein believes there will be fierce competition, which means most Bitcoin ETFs will probably be forced out of the market. The CEO went into further detail on the hefty management costs for its Bitcoin ETF in addition to disclosing this. At 1.5%, it is the highest of the 11 hedge funds; BlackRock, Ark Invest, Fidelity, and the others are attempting to keep their fees below the 0.5% threshold, at least initially.
In contrast to other businesses that have just begun providing Bitcoin services to their clients, Sonnenshein provided an explanation for the high costs, pointing out that the company has been operating for an impressive ten years. According to Sonnenshein, Grayscale’s performance history demonstrates the company’s dedication over the long run.
