Grayscale Investments CEO Michael Sonnenshein told CNBC that most of the approved bitcoin exchange-traded funds won’t survive, while defending the highest fees in the market for the company’s own product. The Grayscale Bitcoin Trust ETF is the world’s largest, with over $25 billion in assets under management. When the U.S. Securities and Exchange Commission approved a swathe of spot bitcoin ETFs earlier this month, much focus was on the management fees that firms from BlackRock to Fidelity were charging. Many of the ETF issuers were charging 0% fees for a limited amount of time before raising them slightly. Most of ... (full story)