GBTC

GBTC was the first major vehicle for institutional Bitcoin exposure before spot ETFs were approved.在现货 ETF 获批之前，GBTC 是机构获得比特币敞口的首要主要载体。

After converting to a spot ETF in early 2024, GBTC saw significant outflows as competitors offered lower management fees.在 2024 年初转换为现货 ETF 后，由于竞争对手提供更低的管理费，GBTC 出现了明显的资金流出。