📣Hey, crypto enthusiasts!🚀 The world's first Bitcoin ETF, Purpose Bitcoin ETF (BTCC), is facing a bit of a struggle. Despite the BTC price soaring, it's lost 20% of its Bitcoin under management in the last 3 months.

🔍Here's the scoop:

• As of April 4, Purpose held 27,871 BTC, worth $1.89 billion USD.

• But, since the U.S. ETFs went live on Jan 11, Purpose has seen a steady outflow of funds.

Why?🤔

• High management fees. Purpose charges 1.0% compared to BlackRock's 0.25%.

• With BTC price on the rise, older investors are cashing out.

What's next?💡

• Grayscale, another high-fee fund, plans to lower its fees.

• No word yet from Purpose.

What do you think? Will lower fees attract more investors? Let's chat below!👇 #Bitcoin #ETF #CryptoNews