{"id":18086,"date":"2024-04-16T17:00:31","date_gmt":"2024-04-16T17:00:31","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=18086"},"modified":"2024-04-16T11:35:09","modified_gmt":"2024-04-16T11:35:09","slug":"outflows-go-deeper-in-grayscales-bitcoin-etf18086-2","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/outflows-go-deeper-in-grayscales-bitcoin-etf18086-2\/","title":{"rendered":"Outflows Go Deeper in Grayscale’s Bitcoin ETF"},"content":{"rendered":"

Grayscale<\/a>‘s GBTC<\/a>, once a dominant force in the bitcoin market, has seen a significant decline in its holdings since the launch of spot bitcoin exchange-traded funds (ETFs) in the United States on January 11th.<\/p>\n

While GBTC’s market share by bitcoin holdings stood at around 100% at the time of the spot ETFs’ debut, it has now plummeted to just 37.3%. This decline in market share corresponds to a halving of GBTC’s bitcoin holdings, which have dropped from approximately 619,220 to around 311,621 as of Monday.<\/p>\n

One contributing factor to GBTC’s diminished stature is its comparatively high fee structure, with a 1.5% fee compared to the 0.12% fee of competitors like BlackRock’s IBIT and Fidelity’s FBTC. Consequently, investors have increasingly favored these lower-cost alternatives, leading to a significant outflow from GBTC.<\/p>\n

Despite the substantial decrease in bitcoin holdings, GBTC’s assets under management in U.S. dollar terms have experienced a less pronounced decline, dropping by 31% from $28.7 billion on January 11th to $19.8 billion at current prices. This is partially attributable to the concurrent rise in bitcoin’s price since the launch of spot ETFs.<\/p>\n

In contrast, BlackRock’s IBIT and Fidelity’s FBTC spot ETFs have seen a rise in market share by bitcoin holdings, capturing 32.2% and 17.8% respectively. Collectively, the assets held by all U.S. spot bitcoin ETFs now amount to nearly 840,000 BTC, representing over 4% of the total 21 million bitcoin supply.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Grayscale‘s GBTC, once a dominant force in the bitcoin market, has seen a significant decline in its holdings since the launch of spot bitcoin exchange-traded funds (ETFs) in the United States on January 11th. While GBTC’s market share by bitcoin holdings stood at around 100% at the time of the spot ETFs’ debut, it has<\/p>\n","protected":false},"author":6,"featured_media":16334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[2093,1096,1101],"class_list":["post-18086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-gbtc","tag-grayscale","tag-grayscale-bitcoin-etf"],"yoast_head":"\nOutflows Go Deeper in Grayscale's Bitcoin ETF - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Grayscale's GBTC, has seen a significant decline in its holdings since the launch of spot bitcoin ETFs in the United States on January 11th.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/outflows-go-deeper-in-grayscales-bitcoin-etf18086-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Outflows Go Deeper in Grayscale's Bitcoin ETF - 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