According to CoinDesk, JPMorgan released a research report on Wednesday saying that Blackrock and Fidelity's spot Bitcoin (BTC) exchange-traded funds (ETFs) already have advantages over Grayscale in certain liquidity indicators related to market breadth. Although Grayscale's GBTC outflows slowed in the fourth week after the approval of the U.S. Securities and Exchange Commission (SEC), the fund is expected to still lose to newly established ETFs, especially Blackrock and Fidelity products, unless it makes meaningful cuts to fees. Grayscale charges the highest fees among spot Bitcoin ETF issuers. After reducing its 2% management fee to 1.5%, its fees are still much higher than competitors. In addition to fees, the report said that Blackrock and Fidelity ETFs already have advantages over GBTC in two liquidity indicators.

#JPMorgan