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0 sats \ 2 replies \ @gmd 19 Mar \ on: Grayscale - The worst asset management ever seen post ETF approval. econ
They still have ~25B under management vs 16B Blackrock, 9B Fidelity at ~12x fees. So they are still massively profitable relative to the competition. I'm sure they've done the math on how many people are trapped not wanting to be taxed on their gains.
Pretty incredible how much they were making off of the original GBTC.
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99 sats \ 1 reply \ @doofus 19 Mar
I wonder how much they were making off fees alone?
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0 sats \ 0 replies \ @gmd 19 Mar
If nothing changed inflow/outflow...
GBTC - 25B x 1.5% = 375 million annual fees. Blackrock - 16B x 0.12% = 19.2 million annual fees.
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