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International Business Times
International Business Times
Business
Nica Osorio

Grayscale Bitcoin Trust Balance Sees 12% Decline, Reaches 553,000 BTC As Pressure Mounts

Bitcoin BTC Grayscale Grayscale Bitcoin Trust GBTC ETF Chris Terry Grayscale Investments SEC
Grayscale's New Brand Identity (Credit: Grayscale Investments official YouTube channel)

KEY POINTS

  • A prominent factor contributing to this decline in GBTC's holdings is the growing volume of outflows
  • The biggest chunk of these outflows is credited to FTX estate
  • As of 4:49 a.m. ET Wednesday, Bitcoin was trading in the positive territory at $40,012.48

The consistent pattern of outflows observed in Grayscale Investments' GBTC, particularly since its official transition into a Bitcoin exchange-traded fund, has led to a substantial double-digit reduction in the quantity of Bitcoin held within the trust.

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