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Grayscale's GBTC is down 50% in bitcoin holdings since spot ETFs launch

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GBTC’s market share by bitcoin holdings has fallen to 37% in the same period, with BlackRock and Fidelity the main beneficiaries.

Grayscale’s GBTC bitcoin holdings have halved in around three months since the U.S. spot bitcoin exchange-traded funds launched on Jan. 11.

BlackRock’s IBIT and Fidelity’s FBTC spot ETFs have been the primary beneficiaries in terms of market share by bitcoin holdings. GBTC has fallen from effectively 100% of the market on launch day to just 37.3% as of yesterday, according to The Block’s data dashboard. IBIT has gained a 32.2% share in the period, with FBTC third on 17.8%.

FBTC’s first zero flow day on Friday means its 63-day inflow streak has ended — the 16th longest streak in U.S. ETF history. IBIT is still going, with a current 65-day inflow streak, placing it at joint 14th.

Source: News Formal (newsformal.com)

 

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