- The Grayscale Bitcoin Trust ETF has generated more revenue than all other funds exchanged by Bitcoin exchange.
- The funds make up nearly $ 268.5 million in the annual income, with a 1.5% cost ratio applied to $ 17.9 billion in property under management.
The Grayscale's Bitcoin Trust ETF (GBTC) has surpassed all other funds exchanged by the Bitcoin exchange combined in terms of the generation of income. It is noteworthy that the Grayscale charge was seven times higher than its competitors and still managed to the top.
The president of the ETF store, Nate GeraciPosted on X on April 27 that GBTC is still making more dollars than any other ETF, and others are not even close. As per data from CoinglassThe funds make up nearly $ 268.5 million in the annual income, with a 1.5% cost ratio applied to $ 17.9 billion in properties under management.
Geraci has shown that all other US Bitcoin ETFs have made an annual income of nearly $ 211.8 million from the general $ 89 billion in possessions under management. In January 2024, Grayscale's Bitcoin ETF spot has lived, and since then, more than half of its handling has disappeared, but it still leads the income section.
GBTC dominance features high -fees on ETF revenues
Grayscale control over GBTC management gives the charge a 1.5% fee. Compared to other ETFs such as Blackrock's Ishhares Bitcoin ETF (IBIT), notice more than $ 56 billion, but this is not worthwhile due to lower fees.
However, Grayscale's chief executive officer Michael Sonnenshein, claimed in April 2024 that fees will decrease after the ETF market grows older. Last month, Grayscale launched a cheaper product, the Bitcoin Mini Trust, to expand the Grayscale product portfolio and appeal to low cost investors.
In 2023, GBTC began its journey as a private trust and became an ETF last year. The survivor of the highly competitive market by charging a higher fee is undoubtedly reflecting that fees are a very important factor for the income of ETFs.
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