With the halving, one of the most important building blocks of the Bitcoin blockchain, just days away, the number of Bitcoins held by Grayscale, one of the most important companies in the cryptocurrency world, seems to have halved!

Grayscale, which has been selling its Bitcoin fund GBTC to its customers for many years and converted this fund into an ETF as of January 11, is experiencing a huge wave of sell-offs. Grayscale, which held 619 thousand Bitcoins (in exchange for this fund) on January 11, the day the Bitcoin fund of the same name GBTC opened for trading, has lost its market share to a large extent due to the massive sales…

Funds to BlackRock and Fidelity…

With the number of Bitcoins halved, Grayscale’s market share dropped from 100% (as it was the only one in this field until ETFs) to 37%. Experts say that the funds exiting Grayscale went into other funds, especially BlackRock and Fidelity. With a transaction fee of 1. 5%, Grayscale is also much more expensive than other ETF issuers in this sense. It is stated that this situation also plays a major role in the exits.

BlackRock’s IBIT ETF, which has a transaction fee of 0.12%, has a market share of 32% and 17% for Fidelity.

The number of Bitcoins held by all ETFs is around 840 thousand units. This is more than 4% of the total Bitcoin supply.

Hong Kong eagerly awaited

As it is known, Hong Kong, an economic autonomous region of China, approved spot Bitcoin and Ether ETFs on Monday. Analysts claim that ETFs in Hong Kong will also face great interest, especially from small investors.