【The US Spot Bitcoin ETF has been launched for 50 weeks, and BlackRock's IBIT has fully absorbed the selling pressure from Grayscale's GBTC】According to a report by Golden Finance, data from HODL15Capital shows that the US spot Bitcoin ETF has been online for 50 weeks, with BlackRock's IBIT holdings increasing from 2,621 coins in the first week to 552,555 coins, fully absorbing the selling pressure from Grayscale's GBTC. Grayscale's Bitcoin holdings have decreased from 619,200 coins in the first week to 206,860 coins. Note: The Grayscale Bitcoin Trust was previously the main way for investors to enter the Bitcoin market, having accumulated a large holding 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 from before. The management fee rate of GBTC (1.5%) is higher than that of other competitors, leading investors to choose to redeem their GBTC shares and shift 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.

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