BlockBeats news, on December 29, according to HODL15Capital data, the U.S. Bitcoin spot ETF has been online for 50 weeks, and the holdings of BlackRock's IBIT have increased from 2,621 BTC in the first week to 552,555 BTC, fully absorbing the selling pressure from Grayscale's GBTC. The Bitcoin holdings of Grayscale's GBTC have decreased from 619,200 BTC in the first week to 206,860 BTC.
BlockBeats note: The Grayscale Bitcoin Trust was previously a major way for investors to enter the Bitcoin market, having accumulated a large position before the launch of the spot Bitcoin ETF, with an initial holding of up to 619,200 BTC. After transitioning to a spot ETF, it directly inherits the large asset base. The management fee rate of GBTC (1.5%) is higher than that of other competitors, leading investors to choose to redeem GBTC shares and turn to other ETFs after the launch of the spot ETF, resulting in the phenomenon of the flow of holdings between BlackRock's IBIT and Grayscale's GBTC mentioned earlier.
