More than 50k BTC emerged from Grayscale Bitcoin Trust (GBTC) after spot Bitcoin ETFs were approved.
According to the information on Grayscale’s website, the number of Bitcoins held in GBTC to 566 thousand 973 ($23.2 billion) declined.
GBTC, which started trading as an exchange traded fund (ETF) on January 11 with the approval of the SEC. approximately 52 thousand 227 Bitcoins ($2.14 billion) output.
Grayscale among spot Bitcoin ETFs in the US with 1.5% fund management fee highest wage taking.
JPMorgan analysts, “GBTC’s 1.5% fee remains very high compared to other spot Bitcoin ETFs, making no more exit It creates risk. “If it loses its liquidity advantage, much more capital could emerge from GBTC, perhaps an additional $5-10 billion.” He commented.
In iShares Bitcoin Trust established by BlackRock 33 thousand 431; In Fidelity’s ETF 24 thousand 857 BTC is being kept.
Bitcoin sales from Grayscale are above the BTC price creates pressure is considered.