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Grayscale CEO says fees on its Bitcoin ETF will drop over time.

Updated: Mar 31

Grayscales's CEO Michael Sonnenshein told CNBC that fees on it's Bitcoin ETF will come down over time changing the company's earlier stance that defended the current fee structure of 1.5%.

GBTC has sustained $12 billion outflows since it was converted into an ETF in early January. Analysts have warned that outflows are mostly because of the high management fees.

Grayscale also plans to introduce other ways of attracting low fee investors, including a "mini" version of it's current product. The Grayscale Bitcoin Mini Trust ($BTC) was just announced last week and will also allow existing holders of GBTC to convert shares into $BTC without paying capital gains tax.


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