You Won’t Believe How Grayscale is Smashing Bitcoin ETFs (Spoiler: It’s All About the Fees)

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.

Watch Bitcoin’s Hashpower Race to 1 Zettahash—Miners Betting Big and Laughing Last

The tale’s as simple as soil and sweat: Bitcoin’s hashrate, that invisible power behind the chaos of coin, is itching to crack the legendary 1 Zettahash mark come summer, if the report from Coinshares holds water. It’s like the sun suddenly hitting the ground harder, making the desert bloom overnight—the growth startling, unexpected, and downright stubborn.