The spot Bitcoin ETF fee war will not save the funds from being eventually pulled from the market, Grayscale CEO believes.
Most of the spot Bitcoin (BTC) exchange-traded funds (ETF) approved by the United States Securities and Exchange Commission (SEC) won’t survive, Grayscale Investment CEO Michael Sonnenshein says.
Sonnenshein predicted in an interview with CNBC at the World Economic Forum on Jan. 18 that the majority of the 11 approved spot Bitcoin ETFs are likely to fail.
The U.S. SEC officially approved 11 spot Bitcoin ETFs on Jan. 10, with 10 of them beginning trading the next day. Many ETF issuers were actively lowering their trading fees to raise competitiveness with other ETF sponsors, with most of the approved ETFs setting fees between 0.2% and 0.4%. Multiple spot Bitcoin ETF providers also offered temporary fee waivers.
