Grayscale Investments’s first-quarter revenue was flat after the issuer of the world’s largest cryptocurrency investment vehicle decided to hold the line on fees for its flagship Bitcoin exchange-traded fund. The operator of the Grayscale Bitcoin Trust had $156 million in revenue, little changed from the fourth quarter, according to a shareholder letter from its parent company, Digital Currency Group. Grayscale has seen outflows of about $17.4 billion since the ETF was converted from a trust in January, according to data compiled Bloomberg, as some investors appear to have shifted assets from GBTC into new, ... (full story)