Will Grayscale lower fees for its soon-to-be-launched Ethereum ETF to be more competitive?
Just a month ago, the fund was trading at a more than a 20% discount to net asset value . However, the U.S. Securities and Exchange Commission made a sharp U-turn by approving several 19b-4 forms. The sudden reversal shocked seasoned market observers who expected the SEC to shoot down spot Ether ETF filings and paved the way for a significant price rally in May.
Geraci recently suggested that the final approval of Bitcoin ETF products could take place as soon as next week. Grayscale's GBTC found it hard to compete with other ETFs from such heavyweights as BlackRock and Fidelity due to its exorbitant fees that are five times higher than the average fee for the other products . Grayscale refused to lower fees for its crown jewel despite facing massive outflows.
While some believe that Grayscale might now move to lower fees in order to record horrendous outflows, Geraci does not believe that this will be the case. The analyst has predicted that Grayscale will conduct the fee war via the Ethereum Mini Trust. Moreover, Geraci does not expect Grayscale's Ether ETF to record massive outflows:"My guess is decent outflows, but not as bad as we saw w/ GBTC."Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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