JPMorgan analyst: Failure to reduce GBTC management fees by Grayscale may lead to further outflows of funds

On February 8th, according to dlnews, Morgan Stanley analysts stated in a recent report that if Grayscale does not effectively reduce fees, more funds may flow out of GBTC. BlackRock charges only 0.12% in fees, Fidelity charges 0.25%, Cathie Wood's Ark Invest fund currently has zero fees which will increase to 0.21% after six months, while Grayscale GBTC has a management fee of 1.5%. The report indicates that Grayscale's current challenges are not limited to fees; the price difference between GBTC and net asset value per share at closing, as well as the "Hui-Heubel liquidity ratio" representing market breadth, both lag behind BlackRock and Fidelity.