Grayscale Bitcoin Trust (GBTC), the world’s largest spot Bitcoin ETF in terms of transaction volume, sent approximately $500 million worth of Bitcoin to the Coinbase exchange.
According to information provided by the blockchain data platform Arkham Intelligence, with the opening of the markets in the USA, Grayscale moved from Bitcoin Trust to Coinbase Prime platform. More than 12 thousand BTC transferred.
Last day, a total of More than 19 thousand Bitcoins Grayscale Bitcoin Trust has been trading as an ETF since January 11. More than 110 thousand Bitcoins transferred.
According to the information on Grayscale’s website, GBTC had a total of $20.7 billion worth of coins.
Grayscale compares favorably to other spot exchange-traded funds traded in the U.S. a much higher fund management fee taking.
Investors’ sales from GBTC continue to put pressure on the Bitcoin price. In a research report published by Galaxy Digital, it was stated that may continue for weeks or months It was predicted.