Grayscale has been fighting to convert its Grayscale Bitcoin Trust (GBTC) to a spot bitcoin ETF. On Wednesday, that finally happened, what the US Securities and Exchange Commission approved 11 spot bitcoin ETFs, including Grayscale's. Grayscale CEO Michael Sonnenshein spoke Yahoo Finance's Julie Hyman from the floor of the New York Stock Exchange, which is where Grayscale's ETF had just started trading. One of the concerns about the Grayscale spot bitcoin ETF is its fee. Grayscale is charging 1.5%, well above rival spot bitcoin ETF issuers. Sonnenshein stresses that the firm has already lowered its fees and that investors have the choice between 11 spot bitcoin ETFs, something Grayscale has lead the charge on. The other point Sonnenshein emphasizes is the fund's size. "GBTC is differentiated... It has $28 billion of AUM coming to market today. That means it is the second largest spot commodity ETF in the world. Yesterday, it traded over $650 million notionally... GBTC has size, liquidity, AUM, and it's offered by Grayscale, a crypto specialist," Sonnenshein says. Watch the video above to learn more about what Sonnenshein says makes the Grayscale Bitcoin Trust ETF different from rivals. #youtube #stockmarket #bitcoin About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance