Grayscale's Bitcoin Trust (GBTC) continues to earn significantly more income than its competitors, generating around $205M annually despite investor outflows. This contrasts with BlackRock’s iShares Bitcoin Trust (IBIT), which earns just $42.5M despite having more AUM. The difference is due to GBTC's higher expense ratio of 1.5%, compared to its competitors’ lower fees, which range from 0.15% to 0.25%. Source: Coindesk
