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.
The Grayscale Bitcoin Trust ETF is the world's largest, with over $25 billion in assets under management.
"Investors are weighing heavily things like liquidity and track record and who the actual issuer is behind the product.
The Grayscale CEO said two to three of the spot Bitcoin ETFs "will maybe obtain some kind of critical mass" of assets under management, but that the others may be pulled from the market.
"I don't ultimately think that the marketplace will have ultimately these 11 spot products we find ourselves having," Sonnenshein said.
Persons:
Michael Sonnenshein, Sonnenshein
Organizations:
Forbes, Summit, New York Historical Society, U.S . Securities, Exchange Commission, Fidelity, CNBC, Economic
Locations:
BlackRock, DAVOS, Switzerland, Davos