According to PANews, on February 22, Grayscale's GBTC reduced its holdings by 2,652 BTC (approximately $135.8 million). Meanwhile, eight ETFs increased their holdings by 3,301 BTC (approximately $169 million), with BlackRock adding 1,891 BTC (approximately $96.8 million) to its holdings.
The data, monitored by Lookonchain, highlights the shifting landscape of institutional investment in Bitcoin. Grayscale's GBTC has been a popular choice for investors seeking exposure to the cryptocurrency, but the recent rise in ETF offerings has provided alternative options for institutional investors.
As the market continues to evolve, it remains to be seen how Grayscale and other investment vehicles will adapt to the changing preferences of investors. The increase in ETF holdings suggests that these products are gaining traction among institutional investors, potentially signaling a shift in the way Bitcoin is accessed and managed by large-scale investors.
