Grayscale’s Bitcoin Trust Reduces Holdings
According to data from Grayscale’s website, the Bitcoin holdings of their fund have decreased from 552,681.22 BTC on Tuesday to 536,694.93 BTC on Wednesday. This represents a significant outflow of 15,986.29 BTC in just one day. The current value of the fund’s Bitcoin is approximately $21.01 billion.
Significant Withdrawals from Grayscale’s Fund
Since January 12, there has been a departure of 80,385.06 BTC from Grayscale’s Bitcoin Trust, amounting to $3.19 billion. On Tuesday, GBTC led the trading volume among the ten spot Bitcoin exchange-traded funds, with a substantial $762 million in total trade volume.
Bitcoin Holdings of Other ETFs
Other ETFs holding Bitcoin include Blackrock’s IBIT with 44,004.52 BTC valued at approximately $1.74 billion, Fidelity’s FBTC with 38,149.16 BTC worth around $1.51 billion, and Bitwise’s BITB with 11,858.63 BTC. Vaneck’s HODL ETF has about 2,715.77 BTC, Franklin Templeton’s EZBC has 1,305 BTC, Ark Invest’s ETF boasts 12,255 BTC, and Invesco Galaxy ETF BTCO is presumed to possess 6,339 BTC.
Total Bitcoin Holdings of Spot BTC ETFs
Overall, the cumulative Bitcoin holdings of these nine spot Bitcoin ETFs amount to 118,019.58 BTC, valued at $4.69 billion based on current exchange rates.
Hot Take: Decreased Holdings Show Market Trends
The recent decrease in Grayscale’s Bitcoin Trust holdings, along with significant withdrawals from their fund, indicates shifting market trends. As investors continue to trade and reallocate their BTC investments, other ETFs such as Blackrock, Fidelity, Bitwise, Vaneck, Franklin Templeton, Ark Invest, and Invesco gain traction. The total Bitcoin holdings of these ETFs demonstrate the growing interest and prominence of Bitcoin in the investment landscape.
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