$BTC | GBTC's 1.50 percent fee against IBIT and FBTC's 0.25 percent is a 125 basis point gap. That alone drove over USD 80B of rotation out of Grayscale's trust into BlackRock's wrapper, the largest intra-product asset shift in ETF history. IBIT has crossed USD 60B in inflows since launch, FBTC sits near USD 12-14B. On the desk I watched allocators chase basis points long before BTC ETFs existed. My read is Australia's own spot ETFs haven't faced this test, launched only in 2024-25 and running 0.45 to 0.49 percent per the ASX's October 2026 report. SatoshiMacro's flow chart tracks allocator rotation, not price, basis points still compound hard over years.
https://satoshimacro.com/tools/crypto/etf-flows/ibit-vs-fbtc-vs-gbtc/?utm_source=binance_square&utm_medium=social&utm_campaign=autopilot_short-1
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