According to data, Grayscale’s Bitcoin Trust, GBTC, recently released another batch of bitcoin valued at $184.19 million. GBTC’s holdings decreased from 482,592.18 bitcoin to the current 478,337.43 bitcoin in just one day, marking a reduction of 4,254.75 coins. Since Jan. 12, 2024, GBTC has offloaded a total of 138,742.56 bitcoin, valued at slightly over $6 billion based on prevailing exchange rates.
Grayscale’s GBTC Sheds Over 22% of Bitcoin Cache Since Public Debut
In the last 22 days, Grayscale’s Bitcoin Trust has divested a significant 138,742.56 BTC. If we distribute this over the entire period evenly, it averages out to approximately 6,308.34 BTC per day. It’s worth noting that GBTC has functioned as a spot bitcoin exchange-traded fund (ETF) for a mere 15 trading days, commencing its trading journey on Jan. 11, 2024.
Grayscale’s fund has been a dominant force in trading volume during 14 out of the 15 trading sessions since its transformation into a publicly traded ETF
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