Grayscale CEO: Management Fees Will Be Reduced When GBTC Converts to Spot Bitcoin ETF

Odaily News Grayscale CEO Michael Sonnenshein said in an interview with CNBC’s Squawk Box show that when Grayscale Bitcoin Trust (GBTC) converts to a spot Bitcoin ETF, it will definitely reduce management fees. It is reported that the current GBTC annual fee is 2%. According to previous news, court documents show that Grayscale has won the lawsuit against the SEC. Grayscale Chief Legal Officer Craig Salm said in an official statement, We appreciate the D.C. Circuits opinion, which recognizes that this case raises straightforward questions about equal treatment under the law. We are also very grateful to Munger, Tolles and Olson, Davis Polk and Wardells legal team. The next step is to work closely with the SEC on a plan to bring GBTC to NYSE Arca as a spot bitcoin ETF.