Grayscale GBTC holdings fell below 500,000! Bitcoin spot ETF total trading volume reaches $25.9 billion

This site (120BtC.coM): After the U.S. Securities and Exchange Commission (SEC) approved 11 Bitcoin spot ETFs this month, it entered the 12th transaction this week. day. According to data monitored by Bloomberg analyst James Seyffart, just one hour after the U.S. stock market opened yesterday, the trading volume of BlackRock's Bitcoin spot ETF IBIT reached US$155 million, once surpassing GBTC's US$113 million trading volume, and seemed to represent GBTC. The selling pressure has weakened.

Amounted to US$1.56 billion on the 12th trading day

Subsequent data showed that the total trading volume of the US spot Bitcoin ETF reached a total of US$1.5643 billion on the 12th trading day after its listing. , among which GBTC still ranks first with a trading volume of US$570 million, BlackRock's IBIT and Fidelity's FBTC rank second and third with a trading volume of US$460 million and US$310 million respectively.

11 Bitcoin spot ETFs

On the other hand, according to official website data, as of January 29, Grayscale’s Bitcoin The Bitcoin holdings of spot ETFGBTC have dropped to 496,573.8166 BTC, and its holdings have fallen below the 500,000 mark for the first time. The current number of GBTC shares in circulation is 555,700,100, and the holdings per share are approximately 0.0008936 BTC, which also allows market analysis The analyst believes that the selling pressure on GBTC will gradually reduce in the future.

Grayscale position update

Price war update

The price war of spot ETFs also ushered in the latest progress, Invesco and Galaxy Asset Management announced that it is reducing the fees on its spot ETF, the Invesco Galaxy Bitcoin ETF (BTCO), from 0.39% to 0.25%. This adjustment brings BTCO’s fees in line with most of its peers.

It is worth noting that only a few companies such as Ark, 21Shares, Bitwise and Franklin Templeton offer lower fees than other competitors. In addition, Invesco stated that fees will continue to be waived for the first six months until BTCO assets reach $5 billion.

11 Bitcoin spot ETF prices

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