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International Business Times

Business

Marvie Basilan

GBTC Halving? Grayscale Spot Bitcoin ETF's BTC Holdings Down 50% Since Launch

Bitcoin Grayscale GBTC ETF Samson Mow BlackRock

Grayscale's GBTC has suffered massive outflows in recent weeks, ahead of the expected April 20 Bitcoin halving. (Credit: Kostenlose Bilder mit KI/flickr)

KEY POINTS

From more than 619K Bitcoin in January, GBTC now only holds some 309K Bitcoins
GBTC charges a 1.5% fee compared to BlackRock's IBIT fee of 0.12%
Bitcoin has plunged significantly from its all-time high of $73K last month

Cryptocurrency asset management giant Grayscale was one of the companies that saw its spot Bitcoin exchange-traded fund (ETF) approved in January, but three months since the Grayscale Bitcoin Trust (GBTC) was approved, its Bitcoin holdings have been reduced by more than half from when spot BTC trading kicked off.

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