“The spot Bitcoin ETF is gaining more momentum, and BlackRock's IBIT is attracting funds! Grayscale's GBTC holdings have significantly shrunk!”

According to HODL15Capital data, with the U.S. spot Bitcoin ETF having been live for 50 weeks, BlackRock's IBIT holdings have surged to 552,555 BTC, significantly absorbing the selling pressure from Grayscale's GBTC. In stark contrast, Grayscale's GBTC Bitcoin holdings have dropped from 619,200 in the first week to 206,860, showing a clear outflow of funds.

It is noteworthy that Grayscale's Bitcoin Trust (GBTC) was previously the main way for investors to enter the Bitcoin market, but due to its 1.5% management fee being higher than competitors, the launch of the spot ETF provides a more attractive option for investors. As a result, a large number of investors chose to redeem their GBTC shares and redirect their funds to BlackRock's spot ETF, driving the rapid growth of BlackRock's IBIT.

The market reshuffling intensifies, and the flow of funds is heading in new directions! Stay tuned with the hunters to accurately grasp the latest trends and seize investment opportunities!