Grayscale’s Bitcoin Trust Sees Reduction Slowdown as New ETFs Gain Ground With Over 160,000 BTC Acquired

In the astir caller update, Grayscale’s Bitcoin Trust (GBTC) experienced a alteration of 4,461.36 bitcoin, valued astatine astir $190.53 million, implicit the past day. Since Jan. 12, 2024, GBTC has observed a cumulative simplification of astir 124,967.54 bitcoin, equivalent to an estimated $5.33 billion. Meanwhile, the 9 precocious launched spot bitcoin exchange-traded funds person collectively garnered an awesome full of 160,661.38 bitcoin.

GBTC Sheds Almost 125,000 Bitcoin While 9 Fresh ETFs Gather Over 160,000

Recent trends bespeak a slowdown successful the outflows from Grayscale’s Bitcoin Trust (GBTC), with each trading time experiencing a smaller diminution implicit the past 2 sessions. As of Jan. 30, 2024, information revealed that GBTC’s holdings dipped beneath the 500,000 BTC mark, registering astatine 496,573.81 BTC. However, successful the past 24 hours, the holdings person further decreased by 4,461.36 BTC, bringing the full down to 492,112.45 BTC, presently valued astatine astir $21.43 billion.

The caller reductions successful GBTC person been notable, yet they airy successful examination to the substantial drop of 20,803 bitcoin observed connected Jan. 26. From Jan. 12 to Jan. 31, 2024, GBTC’s reserves person shrunk from 617,079.99 BTC to 492,112.45 BTC, marking a important nonaccomplishment of 124,967.54 BTC, according to existent metrics. In contrast, Blackrock’s IBIT has seen maturation implicit the past day, expanding from 56,629 BTC to 63,488.22 BTC, an uptick of 6,859.22 BTC.

As highlighted successful their Jan. 31, 2024, regular holdings report, Fidelity’s FBTC has witnessed a rise, moving from 47,238 BTC to 53,802.34 BTC. Meanwhile, Ark Invest’s ETF, ARKB, has expanded its holdings to 15,175 BTC, an summation of 385 BTC successful the past 24 hours. Bitwise’s BITB has seen a notable jump, going from 13,576.10 to 14,039.54 BTC. According to the latest assets nether absorption (AUM) data, the Invesco Galaxy ETF BTCO is presently holding 6,898 BTC.

In different developments, Vaneck’s HODL ETF present contains 2,941.99 BTC, and Valkyrie’s BRRR ETF has a full of 2,635.29 BTC. Franklin Templeton’s holdings person climbed from 1,363 BTC to a contiguous full of 1,421 BTC. As of Jan. 31, Wisdomtree’s BTCW ETF is holding 260 BTC. Collectively, these 9 recently introduced spot bitcoin ETFs person amassed a important 160,661.38 BTC, valued astatine $6.88 cardinal astatine the existent marketplace rate. Although the combined accumulation of these 9 caller ETFs is impressive, GBTC’s money remains notably larger, being 3.11 times much invaluable than the aggregate of each nine.

What bash you deliberation astir the 9 caller ETFs collecting much than 160,000 bitcoin? Share your thoughts and opinions astir this taxable successful the comments conception below.