Grayscale Faces ‘Instantaneous’ Fee War in US Bitcoin ETF Race

Fresh off a pivotal win in court this week, Grayscale Investments LLC may soon find itself in another fight: the $7.5 trillion US exchange-traded industry’s never-ending contest over fees.

A ruling Tuesday overturned the Securities and Exchange Commission’s decision to block Grayscale’s bid to convert its $17 billion Bitcoin trust into a physically backed ETF. While the action potentially paves the way for the firm to attract a fresh wave of investors, there’s just one thing: The product carries a 2% fee in its current form. That compares to an average of 0.54% across US-listed ETFs, and 1.48% for crypto ...