In January, Grayscale converted GBTC, which had been in existence as a closed-end fund for over a decade, into a spot ETF, becoming one of ten issuers
In January, Grayscale converted GBTC, which had been in existence as a closed-end fund for over a decade, into a spot ETF, becoming one of ten issuers to bring such a fund to the market. While billions flowed into the new vehicles, GBTC, whose management fee of 1.50% was more than 100 basis points above its competitors, experienced billions in outflows.
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