Grayscale’s Bitcoin Fund Dips to $21 Billion with Major BTC Outflow

On January 24, 2024, the latest data from Grayscale’s website reveals that their Bitcoin fund holds 536,694.93 BTC, currently valued at about $21.01 billion. This marks a decrease from the previous day’s holding of 552,681.22 BTC, indicating a substantial outflow of 15,986.29 BTC, worth over $635 million on Tuesday.

Rewinding to January 12, Grayscale’s fund had 617,079.99 BTC, which means there’s been a notable reduction of 80,385.06 BTC since then, equivalent to a $3.19 billion drop in value. Notably, on Tuesday, Grayscale’s GBTC led the pack among ten spot bitcoin exchange-traded funds (ETFs) in trading volume, with a remarkable turnover of $762 million.

The combined trading volume for all these ten ETFs hit $1.6 billion on January 23. Fidelity’s FBTC followed closely, recording $357 million in trades. Blackrock’s latest update on Wednesday shows their IBIT fund holding 44,004.52 BTC, currently worth about $1.74 billion.

Fidelity’s FBTC is not far behind, with 38,149.16 BTC in its portfolio, valued at approximately $1.51 billion. Bitwise’s BITB, as per their latest website update, holds 11,858.63 BTC. Vaneck’s HODL ETF is reported to have around 2,715.77 BTC.

Franklin Templeton’s EZBC has a holding of 1,305 BTC, while Ark Invest’s ETF is sitting on 12,255 BTC. Invesco, while not revealing the exact number of BTC they hold, is estimated to have around 6,339 BTC in their Invesco Galaxy ETF BTCO, deduced from their assets under management (AUM).

On January 24, Wisdomtree’s BTCW ETF shows a holding of 191 BTC, and Valkyrie’s BRRR ETF manages 2,201.50 BTC. In total, these nine spot bitcoin ETFs collectively manage a substantial 118,019.58 BTC, which is valued at $4.69 billion, based on the current exchange rates.

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