🚀 Close to 640,000 Bitcoins Held by US Bitcoin ETFs Now🚀

Breaking News: Crypto trader and analyst Ali Martinez reveals the staggering growth of Bitcoin holdings by US Bitcoin ETFs, reaching a jaw-dropping 638,900 BTC, valued at approximately $27 billion! 📈💰

💡 Key Findings: 💡

Grayscale Dominance: The lion's share of Bitcoin holdings belongs to Grayscale Bitcoin Trust (GBTC) with a whopping 566,973 BTC, showcasing their prominent position in the market.

Competition Heats Up: BlackRock, represented by its iShares spot ETF (IBIT), follows closely with 28,662 BTC. However, Grayscale's trading volume dwarfs IBIT and other competitors, making them a force to be reckoned with.

📊 Insights from the CEO: Grayscale CEO, Michael Sonnenshein, predicts a market shake-up, anticipating that not all 11 spot-based Bitcoin ETFs will withstand the fierce competition. With high management fees (1.5%), Grayscale defends its position with a decade-long track record, setting them apart from newcomers.

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