GBTC's daily trading volume approaches $500 million...Top 1% of ETFs.
![GBTC's daily trading volume approaches $500 million...Top 1% of ETFs.](/content/images/size/w1200/2024/01/-1x-1.jpg)
Eric Balchunas, a Bloomberg ETF analyst, said of the analysis. In this regard, he added: "If GBTC's conversion to a spot ETF is successful along with all the issuers that have applied for a bitcoin spot ETF, a full-scale battle for market share will begin. However, the high management fee of 1.5% may be a stumbling block".
![GBTC BTC 500M Top 1% of ETFs (SpotedCrypto)](https://www.spotedcrypto.com/content/images/2024/01/b6493cc525fd16a415b3da62925fd48f.jpg)