Howard A. Fischer was quoted in Grip article "Rush to low fees spurs bitcoin ETF competition as leading fund hits $10bn asset mark," saying: 

“The Grayscale converted ETF is actually one of the few funds that actually has seen a net outflow of assets. And that’s because the other competitors –BlackRock, Fidelity, ARK 21 shares – have very low rates, very low fees, something around 1.9 to .25%.” 

He added: “What’s happened in the cryptocurrency world is what’s happened in the financial services world over the last thousand years, but compressed into a three to five-year period.”