Since the launch of the U.S. spot Bitcoin ETF on January 11, the Grayscale Bitcoin Trust (GBTC) has reduced its Bitcoin holdings by nearly half. At the start of trading in the Bitcoin spot ETF, GBTC held about 619,220 Bitcoins.
According to information disclosed by GBTC on Monday, its Bitcoin holdings subsequently fell by about 50% to about 311,621. In addition, GBTC charges a much higher fee than its competitors, at 1.5%, while BlackRock's IBIT currently charges a fee of 0.12%.
