Alright, folks, here’s the deal: Grayscale’s Bitcoin Trust ETF (GBTC) is out here absolutely *crushing* the competition. No, really. It’s pulling in more revenue than all the other spot Bitcoin ETFs put together. And here’s the kicker—it’s doing it with fees that are up to *seven times* higher than its competitors. Seven! You’d think someone would notice, right? But nope, Grayscale’s still raking it in.
According to Nate Geraci (who’s probably sipping a coffee somewhere, laughing about all this), GBTC is pulling in around $268.5 million a year. How? Well, it’s charging a 1.5% fee on $17.9 billion in assets. In comparison, all the other U.S. Bitcoin ETFs, with a combined $89 billion in assets, are making a measly $211.8 million. So yeah, GBTC is winning… by a lot.
Nearly 16 months after spot BTC ETFs launched, GBTC’s still making more $$$ than all the other ETFs combined…
And it’s not even close.
— Nate Geraci (@NateGeraci) April 27, 2025
Now, don’t get too comfortable. Despite GBTC losing half its holdings when spot Bitcoin ETFs launched back in January 2024, the company is still laughing all the way to the bank. Why? Because the fee-based model *works*. And let’s be real, their brand awareness is next level. Talk about knowing how to make a buck.
And then there’s BlackRock’s iShares Bitcoin ETF (IBIT), with its gigantic $56 billion in assets. Sounds impressive, right? But nope—it’s just not as profitable. Why? Lower fees, baby. Grayscale’s making it rain while others are barely getting a drizzle.
So, what’s Grayscale doing about it? They’ve gone and introduced the Bitcoin Mini Trust in March 2025. Why? To offer a cheaper product. Because, why not steal even more market share from the competition, right? Honestly, it’s like they’re playing chess while everyone else is stuck on checkers.
GBTC started as a private trust in 2013, then became an ETF in 2024 after a legal victory. Even in this cutthroat Bitcoin ETF market, they’re still charging those juicy fees, proving once and for all that *fees* are the secret sauce to ETF revenue. Who knew, right?
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2025-04-28 08:31