The latest data from Grayscale’s GBTC reveals that the trust’s bitcoin holdings have diminished to below 500,000, following a departure of 6,138.79 bitcoin from its reserves in the past day. Conversely, Blackrock’s IBIT has bolstered its bitcoin assets by 4,603.24 bitcoin, valued at $199 million.
GBTC’s Bitcoin Holdings Wane as Competing Funds Increase Their Caches
On Jan. 30, 2024, Grayscale’s GBTC’s bitcoin portfolio stood at 496,573.81 BTC, with an estimated market value of $21.43 billion. GBTC has experienced a significant depletion in its bitcoin reserve, with a decrease of approximately 120,506.18 BTC, equivalent to around $5.23 billion in value, since Jan. 12. On Jan. 29, the combined trade volume for all ten spot bitcoin exchange-traded funds (ETFs) reached $1.59 billion, with GBTC contributing $576.01 million to this figure.
While GBTC experienced a decrease, Blackrock’s IBIT witnessed growth in the past day, escalating from 52,025.76 BTC to a current tally of 56,629.00 BTC, as per the latest IBIT figures. Fidelity’s most recent update for their holdings on Jan. 30 remains pending, and as of Jan. 29, FBTC’s holdings were at 46,238.09 BTC. However, onchain data indicates an increase to 47,238 BTC. ARKB, managed by Ark Invest and 21shares, now possesses 14,790 BTC. Bitwise’s BITB maintains a reserve of 13,576.10 BTC, having observed no growth in the last day.
The rest of the ETFs have yet to refresh their holding reports. Currently, Invesco has 6,833 BTC, Vaneck possesses 2,885.46 BTC, Valkyrie owns 2,635.29 BTC, and Franklin Templeton’s holdings are at 1,363 BTC. Holding the smallest bitcoin amount among the spot bitcoin ETFs is Wisdomtree, with 201 BTC valued at $8.7 million. All nine spot BTC ETFs hold 140,250.85 BTC as of Jan. 30, 2024.
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