{"id":136410,"date":"2024-08-29T14:30:22","date_gmt":"2024-08-29T11:30:22","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136410"},"modified":"2024-08-29T13:41:02","modified_gmt":"2024-08-29T10:41:02","slug":"grayscale-bitcoin-holdings-plummet-as-investors-shift-to-competitors","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/grayscale-bitcoin-holdings-plummet-as-investors-shift-to-competitors\/","title":{"rendered":"Grayscale Bitcoin Holdings Plummet as Investors Shift to Competitors"},"content":{"rendered":"
Since converting<\/a><\/strong> its Grayscale Bitcoin<\/a><\/strong> Trust (GBTC) into an exchange-traded fund (ETF) in January, the fund\u2019s Bitcoin reserves have plunged by more than 60%, according to Coinglass data.<\/p>\n Initially, GBTC held nearly 620,000 Bitcoin, but by April 28, that figure dwindled to around 227,400 BTC, valued at approximately $13.3 billion.<\/p>\n This decline is partly due to ongoing investor outflows following the ETF conversion, as high fees and stiff competition from rivals like BlackRock\u2019s iShares Bitcoin Trust (IBIT) and Fidelity\u2019s FBTC have made alternatives more appealing.<\/p>\n