Bitcoin (BTC-USD) and the general cryptocurrency space have seen a momentous rally in February, with the former peaking back above $60,000. After revitalized interest in digital assets following the Securities and Exchange Commission’s (SEC) approval of spot bitcoin ETF offerings in January, Grayscale’s Bitcoin Trust (GBTC) has seen outflows of nearly $8 billion over the past month.
Yahoo Finance’s Madison Mills is joined by Grayscale Global Head of ETFs Dave LaValle on the floor of the New York Stock Exchange to talk about the spot bitcoin ETF landscape and the crypto asset manager’s premium fees on its offering.
“We came to market with $28 billion in assets, and we had 100% market share, so for us to expect that we were going to maintain 100% market share really wasn’t something that we were looking at, so the outflows that we have seen have been expected. we anticipated that,” LaValle explains. “Look, we have a premium fee for a premium product, and so that’s where we’re standing right now.”
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Editor’s note: This article was written by Luke Carberry Mogan.
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