Why Grayscale’s Bitcoin Trust still dominates ETF revenue in 2025
Grayscale Bitcoin Trust (GBTC) generates more revenue than all spot Bitcoin ETFs combined, driven by its high fees and enduring investor loyalty despite outflows. In the annals of financial history, few institutions have faced the tempests of competition with the steadfast resolve of Grayscale Bitcoin Trust (GBTC). Born in 2013 as a private placement, GBTC…