6,850
$BTC withdrawn from Greyscale!!!
Why?
👇👇👇👇👇
Grayscale's Bitcoin holdings have decreased by 36% since the conversion of GBTC into a spot ETF in January. Previously, it held approximately 620,000
$BTC but it now stands at 395,744 BTC. Despite the reduction, the remaining assets are valued at $28.5 billion at current BTC prices.
The conversion to a spot ETF enabled investors to redeem their shares for the underlying asset, prompting some to cash out or rebalance their portfolios due to the higher fees compared to competing products offered by BlackRock and Fidelity.
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