At 10:30 a.m. Eastern Time (ET) on Friday, Grayscale’s GBTC reported a decrease of 10,871.56 bitcoin from its holdings compared to Thursday. In contrast, since its inception on Jan. 11, 2024, Blackrock’s IBIT has accumulated a total of 49,952.32 bitcoin worth $1.98 billion.
Grayscale’s GBTC Sees Significant Bitcoin Outflow as Blackrock’s IBIT and Other ETFs Gain Momentum
In the last 24 hours, GBTC has seen another significant outflow of bitcoin, with a tranched of 10,871.56 bitcoin, valued at $449 million, departing from its reserves. As of Thursday, Grayscale’s bitcoin trust held a total of 523,516.43 BTC, but as of today, this amount has decreased to 512,644.87 BTC. This signifies that a substantial sum of 104,435.12 BTC, amounting to $4.3 billion, has been withdrawn from Grayscale’s trust since Jan. 12, 2024.
Blackrock has experienced yet another boost, with its holdings now reaching 49,952.32 BTC, valued at $1.98 billion. Since Thursday, Blackrock’s IBIT has seen an increase of 4,284.24 BTC. According to a recent report from Fidelity, its spot bitcoin exchange-traded fund (ETF) FBTC currently possesses 43,855.14 BTC, worth $1.74 billion. The Ark Invest 21shares ETF’s holdings amount to 13,285 BTC, valued at $549 million, while Bitwise’s BITB now boasts a balance of 12,840.05 BTC.
Vaneck’s HODL ETF maintains its previous count of 2,772.33 BTC as of the latest update. Similarly, Franklin Templeton’s EZBC bitcoin reserve remains at 1,334 BTC, and Invesco’s figure also stays constant at 6,339 BTC, as estimated from BTCO’s assets under management (AUM). Valkyrie’s BRRR ETF has shown an uptick since Thursday, now holding 2,592.75 BTC. Wisdomtree’s BTCW ETF continues to hold 201 BTC, indicating no change in its holdings since yesterday.
This trend indicates that while GBTC saw an exodus of 104,435.12 BTC, valued at $4.3 billion, the nine newly launched spot bitcoin ETFs have collectively acquired 132,170.59 BTC since they began trading. At current exchange rates, these nine ETFs hold a combined value of $5.46 billion. Blackrock and Fidelity together represent a significant 70.97% of the nine ETFs’ collective holdings. Furthermore, the total assets of these nine ETFs amount to 25.78% of the size of Grayscale’s GBTC holdings as of Friday.
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