Bitcoin Portfolio Shifts: GBTC Declines, ETFs See Significant Growth
Recent data indicates a significant reduction in Grayscale’s GBTC holdings, with over 11,189 bitcoins, valued at approximately $477 million, withdrawn from its reserves within three days of the website update.
As of January 17, 2024, GBTC’s bitcoin holdings have decreased to 605,890.87 BTC, representing a decline from 617,079 BTC reported on January 13. In contrast, Blackrock’s Ishares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund (FBTC) have expanded their bitcoin holdings to 16,361 BTC ($707.42 million) and 12,112 BTC ($516 million), respectively.
Other ETFs like ARK 21shares Bitcoin ETF, Vaneck’s HODL fund, and Galaxy Invesco ETF (BTCO) have also experienced increases in their bitcoin holdings, while Wisdomtree’s BTCW and Valkyrie BRRR fund maintain their positions. Collectively, these ETFs hold an estimated 40,751 BTC, constituting 6.725% of Grayscale’s GBTC holdings. Bloomberg’s senior ETF analyst, Eric Balchunas, noted the significant outflow from GBTC and commented on the diminishing discount pressure within the ETF.
Clever Robot News Desk 19th January 2024
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