Grayscale Slashes Bitcoin Holdings as
ETF Rivals Surge Ahead Grayscale's Bitcoin Trust (GBTC) is on a selling spree, shedding
3,426.99 BTC on Monday and
2,565.39 BTC on Tuesday from its exchange-traded fund (ETF). The trust's stash now stands at
472,345.05 BTC, worth a whopping
$20.34 billion.
Since January 12, GBTC has reduced its holdings by
144,734.94 BTC, amounting to around
$6.23 billion. Notably, Bitmex research shows that since January 11, GBTC has dumped
147,792 BTC, valued at approximately
$6.37 billion.
While Grayscale trims down, Blackrock's IBIT adds to its arsenal with an extra
3,235.87 BTC, bringing its total to
75,702.51 BTC ($3.23 billion). Fidelity's FBTC also flexes its muscles with a reserve of
62,787.62 BTC ($2.66 billion).
Other ETFs are not lagging behind either: Ark Invest's 21shares ETF and Bitwise's BITB witness growth, while Invesco Galaxy fund BTCO and Vaneck's HODL ETF show steady numbers.
Observers note that the tide may be turning for GBTC as outflows slow down,
but inflows to other products are also tapering off. The competition in the ETF space is heating up!
With Grayscale taking a backseat and rivals vying for dominance, the battle for Bitcoin supremacy among these investment vehicles continues to captivate crypto enthusiasts.
