Despite a 50% decline in assets under management (AUM) for the Grayscale Bitcoin Trust (GBTC), the fund still generates nearly five times more fee revenue than BlackRock’s Bitcoin ETF (IBIT). This highlights the difference in fee models and Grayscale’s influence in the digital asset space, despite the decline in asset values.
Grayscale charges a 2% annual management fee from the GBTC fund, while BlackRock charges just 0.4% from its IBIT fund. Despite the large difference in assets under management, Grayscale’s higher fees have allowed the fund to maintain significantly more fee revenue than BlackRock.
This difference also highlights Grayscale’s preference for long-term investors and their commitment to the GBTC fund, while BlackRock has focused primarily on attracting investors with lower fees and a more accessible ETF product.
