Grayscale's GBTC Sheds Over 13,700 BTC in 24 Hours Amid Rising Bitcoin ETF Competition
January 19, 2024
Prior to Wednesday’s market opening, Grayscale’s exchange-traded fund, GBTC, reported holding 605,890.87 bitcoin in reserves. However, according to the company’s most recent update, there has been a significant decrease in GBTC’s holdings, with a reduction of 13,793.09 bitcoin, valued at approximately $571 million.
Major Outflows Hit Grayscale’s GBTC
This recent decline in reserves marks…