Tag: ETF

Grayscale’s Sonnenshein promises to drop 1.5% fees on its spot Bitcoin ETF ‘over time’

boss

Crypto asset management firm Grayscale with $26 billion allocated in its ETF fund GBTC plans to drop fees as its outflows reach $12 billion. Grayscale CEO Michael Sonnenshein has announced plans to reduce fees on the Grayscale Bitcoin Trust ETF (GBTC) in the coming months as the crypto market craze seems to cool off. In an interview with CNBC, Sonnenshein revealed plans to gradually decrease fees on GBTC, justifying the current 1.5% management fee by citing GBTC’s liquidity and track record compared to other exchange-traded funds (ETFs) in the market.…

Grayscale CEO says GBTC Bitcoin ETF fees will come down over time

boss

Michael Sonnenshein, CEO, Grayscale Investments at the NYSE, April 18, 2022. Source: NYSE LONDON — The boss of digital asset management firm Grayscale, which manages the $26 billion exchange-traded fund GBTC, has said that fees on its flagship product will come down over time, after its outflows reached $12 billion. Grayscale CEO Michael Sonnenshein said that the crypto fund manager expects to bring fees on its Grayscale Bitcoin Trust ETF down in the coming months, as the nascent crypto ETF market matures. “I’ll happily confirm that, over time, as this market…

Bitcoin could face sell off if ETF inflows slow

boss

Bitcoin ETFs in the U.S. saw record inflows last week, but 10x Research reports that analysts caution about possible price declines if demand falters. According to data from Farside Investors, the 10 ETFs collectively attracted $2.6 billion in new investments during the five days ending March 15. Most of these inflows occurred early in the week, with a surge from Monday to Wednesday driving BTC to new highs, nearly hitting $74,000. However, the momentum waned towards the end of the week, with only $133 million and $198 million of net…

Hong Kong leaps into Ethereum ETFs amid Bitcoin ETF delays

boss

Hong Kong is gearing up to introduce Ethereum ETFs, racing to beat the U.S. in the global crypto game, as Bitcoin ETFs face launch delays. Financial institutions in Hong Kong are racing to roll out Ethereum (ETH) exchange-traded funds (ETFs) before the U.S. does, aiming to establish dominance in the crypto market. Following the successful introduction of Bitcoin (BTC) spot ETFs in the U.S. in January 2024, Hong Kong is keen to leverage the growing demand for crypto investment products. Although Hong Kong began accepting applications for Bitcoin spot ETFs…

Vanguard Group’s outgoing CEO still not bullish on Bitcoin ETF

boss

Vanguard Group CEO Tim Buckley is standing firm in his decision not to offer the company’s customers spot Bitcoin (BTC) ETF investment opportunities, even though several competitors have already introduced them.  Buckley explains stance on Bitcoin ETFs Despite facing criticism from customers and ongoing inquiries about the firm’s plans to offer them, Buckley has remained steadfast in his strong opposition to Bitcoin exchange-traded funds (ETFs). Buckley highlighted Bitcoin’s extreme volatility and speculative nature, noting its lack of stability, reliability as a store of value, and absence of underlying cash flows…

Senators raise concerns over crypto ETF approvals, face industry backlash

Two US Senators have recently expressed concerns to the Securities and Exchange Commission (SEC) regarding the approval of further crypto exchange-traded funds (ETFs).  Senators Jack Reed and Laphonza Butler, in a communication with SEC Chair Gary Gensler, highlighted the potential risks to retail investors, specifically citing the possibilities of fraud and manipulation in markets for smaller cryptocurrencies. They emphasized the findings of a FINRA survey, revealing that 70% of brokers’ interactions with retail investors breached fair disclosure norms, with misleading comparisons of cryptocurrency to cash and inadequate explanations of risks.…

Grayscale Submits Revised Application For Ethereum Spot ETF

boss

Asset management firm Grayscale Investments has updated its application for an Ethereum spot ETF (exchange-traded fund) with the United States Securities and Exchange Commission (SEC). Ethereum Spot ETF Case Just As Solid As Bitcoin’s, Grayscale Argues According to a recent post on X by Craig Salm, Grayscale’s chief legal officer, the asset management firm has revised its 19b-4 form for an Ether spot ETF. Salm claimed that this move was “important” in an effort for Grayscale to list and trade shares of its Ether Trust on the New York Stock…