Grayscale reduces Bitcoin holdings as BTC price rises

After two years, Bitcoin finally breaks $50,000 for the 1st time, yet the Grayscale company is steadily decreasing the amount of BTC it holds. The amount of Bitcoin held by the company decreased to 465 thousand BTC with its $6.4 billion in net outflow by now. For BlackRock and Fidelity, this amount is approximately 87 thousand and 73 thousand, accordingly.

Grayscale reduces Bitcoin holdings as BTC price rises

While Bitcoin’s rise again after a bear season of approximately 2 years makes investors happy, the number of BTC in the hands of Grayscale, which receives the most expensive transaction fee from ETFs, is decreasing.

According to the previous numbers, the company holds 463 thousand 387 BTC. On the day Grayscale’s Bitcoin spot ETFs were approved, company held more than 630 thousand BTC.

Bitcoin worth over $34 billion in total

On the other hand, statistics from February 12 were also announced. While there were net outflows of $95 million from Grayscale yesterday, BlackRock saw net inflows of $374 million and Fidelity $151 million. The total value of Bitcoin purchased with ETFs surpassed $34 billion for the 1st time. This number corresponds to 3.5% of the total Bitcoin supply.

BlackRock holds 87 thousand 770 Bitcoins, and Fidelity holds 73 thousand 390 Bitcoins.

Leave a Comment