Around 640,000 Bitcoins are currently held by US Bitcoin ETFs, according to data provided by on-chain analytics aggregator Crypto Quant. Grayscale CEO, Michael Sonnenshein, predicts that the majority of BTC ETFs will not survive the market race in the long term. Sonnenshein also highlighted that Grayscale’s Bitcoin ETF has the highest management fees at 1.5%, compared to other hedge funds like BlackRock, Ark Invest, and Fidelity, who aim to keep their fees below 0.5%. Sonnenshein attributes Grayscale’s higher fees to their 10-year track record in the industry.
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Close to 640,000 Bitcoins Held by US Bitcoin ETFs Now
