According to Odaily, Grayscale Bitcoin Trust (GBTC) held 289,040.5264 Bitcoin (BTC) as of May 24, 2024. In addition to this, the non-GAAP asset management scale of GBTC was reported to be $20,002,254,770.20. The circulating shares have decreased to 325,000,100.
Grayscale Bitcoin Trust is a traditional investment vehicle with shares titled in the investor's name. It provides a secure structure to gain exposure to Bitcoin and operates in compliance with the existing investment regulations. The decrease in circulating shares indicates a reduction in the number of shares available for trading in the open market.
The data provided by Grayscale gives an insight into the current state of the Bitcoin market. The number of BTC held by GBTC is a significant indicator of institutional interest in Bitcoin. The decrease in circulating shares, on the other hand, could suggest a potential decrease in market liquidity. However, the implications of these figures on the overall cryptocurrency market remain to be seen.