Grayscale's GBTC reaches its own halving, down 50% in bitcoin holdings since spot ETFs launch
Grayscale’s GBTC bitcoin holdings have halved in around three months since the U.S. spot bitcoin exchange-traded funds launched on Jan. 11. In contrast to the newborn nine ETFs from BlackRock, Fidelity and others, Grayscale’s pre-existing Bitcoin Trust was converted into an ETF rather than launching from a standing start — holding around 619,220 when spot bitcoin trading began.
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