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Benzinga
Benzinga
Business
Adrian Zmudzinski

Grayscale Bitcoin Trust Rakes In Almost $500M In Fees As Investors Clamor For Bitcoin Spot ETF

Grayscale Grayscale Bitcoin Trust Grayscale Investments

Grayscale Investments — the asset manager behind the world's biggest Bitcoin (CRYPTO: BTC) fund Grayscale Bitcoin Trust (OTC:GBTC) — raked in a hefty fee in 2021 for operating the fund.

What Happened: Jameson Lopp, a Bitcoin influencer and founder of a Bitcoin storage app called Casa, pointed out in a tweet that the "Grayscale Bitcoin Investment Trust collected 0.00001879 BTC per share in 2021 for expenses." This adds up to a total of 13,000 Bitcoin for the 692,370,100 outstanding fund shares — translating to "around half a billion dollars at the current exchange rate," according to Lopp.

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