GBTC Sees Over 80,000 Bitcoin Leave in 12 Days While Rival ETFs Amass 118,000 BTC

Statistics reveal that Grayscale’s Bitcoin Trust (GBTC) has offloaded a further quantity of bitcoin, with the fund’s holdings decreasing from Tuesday’s 552,681.22 bitcoin to Wednesday’s total of 536,694.93 bitcoin. Over the last day, the fund experienced an outflow of 15,986.29 bitcoin, as per data from the official website.

Grayscale’s Bitcoin Trust Reduces Holdings by Over 15,900 Bitcoin in a Single Day

As of Jan. 24, 2024, data from Grayscale’s website indicates that their fund’s bitcoin holdings amount to 536,694.93 BTC, valued at approximately $21.01 billion. The previous day, the fund’s balance stood at 552,681.22 BTC, signifying that Tuesday witnessed an exodus of 15,986.29 BTC, equivalent to over $635 million, marking another significant withdrawal.

Back on Jan. 12, Grayscale’s fund possessed 617,079.99 BTC, which means that since then, there has been a departure of 80,385.06 BTC, translating to a value of $3.19 billion from the fund. Once again, GBTC led the trading volume among the ten spot bitcoin exchange-traded funds (ETFs) on Tuesday, recording a substantial $762 million.

The collective volume for all ten ETFs reached $1.6 billion on Jan. 23, with Fidelity’s FBTC ranking second, achieving $357 million in total trade volume. Blackrock‘s daily holdings update on Wednesday shows that IBIT currently possesses 44,004.52 BTC, valued at approximately $1.74 billion based on current BTC exchange rates.

Fidelity’s FBTC holds 38,149.16 BTC, worth around $1.51 billion. According to its latest web portal update, Bitwise’s BITB has 11,858.63 BTC in its coffers. Vaneck’s HODL ETF is reported to have about 2,715.77 BTC at present.

Franklin Templeton’s EZBC encompasses 1,305 BTC, while Ark Invest’s ETF boasts 12,255 BTC. Invesco, though not disclosing the exact number of BTC held, is presumed to possess 6,339 BTC in its Invesco Galaxy ETF BTCO, inferred from its assets under management (AUM) value.

On Jan. 24, Wisdomtree’s BTCW ETF has 191 BTC, and Valkyrie’s BRRR ETF manages 2,201.50 BTC. Cumulatively, these nine spot bitcoin ETFs hold a significant total of 118,019.58 BTC, valued at $4.69 billion, according to the prevailing exchange rates.

What do you think about the 118,000 bitcoins held by the newly introduced spot bitcoin ETFs? Share your thoughts and opinions about this subject in the comments section below.