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%.
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According to SoSoValue data, as of April 17, the total net asset value of Bitcoin spot ETFs was US$51.08 billion. Among them, the historical net outflow of Grayscale ETF GBTC reached US$16.59 billion, and the net outflow yesterday was US$133 million. On the other hand, BlackRock ETF IBIT was the Bitcoin spot ETF with the largest net inflow in a single day yesterday, with a net inflow of approximately US$18.09 million. The ETF net asset ratio (market value relative to the total market value of Bitcoin) reached 4.26%, and the historical cumulative net inflow reached US$12.27 billion.
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According to on-chain analyst Ember, it is expected that after the opening of the U.S. stock market tonight, the custodial address of the BTC ETF will have a net outflow of about 2,706 BTC. Specifically, Grayscale (GBTC), Ark Invest (ARKB), and Bitwise (BITB) will have an outflow of about 3,003 BTC, while BlackRock (IBIT) will have an inflow of about 297 BTC. As of now, there are eleven BTC spot ETFs, holding a total of 839,596 BTC, worth about US$51.21 billion.
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