BlackRock's IBIT ETF could soon flip Grayscale's GBTC, to become the largest ETF by Bitcoin holdings.
GBTC News
What is GBTC? The Grayscale Bitcoin Trust, which trades under the ticker GBTC, is an investment vehicle that trades similar to a stock, with each share representing a specific amount of Bitcoin (BTC). Grayscale is a company providing various financial products. It originally launched GBTC in 2013. The product trades over the counter (OTC), although Grayscale aims to transform it into an exchange-traded fund (ETF). Historically, the price of Grayscale’s GBTC has traded notably above and below the equivalent value of the underlying BTC per share when compared with trading Bitcoin on crypto exchanges. This price difference is referred to as the GBTC premium. Is GBTC a good way to buy Bitcoin? GBTC essentially gives people outside of the cryptosphere the opportunity to own Bitcoin that is packaged similar to a stock under traditional United States regulations.
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GBTC, the biggest spot Bitcoin ETF, has “halved” since the trading launch in January, but rivals like BlackRock’s IBIT have added more than 10,000%.
8215Bitcoin futures and options signal investors’ confidence was not meaningfully impacted by BTC’s recent dip to $61,500.
16344The GBTC outflows on April 10 were approximately 15 times less than the average daily GBTC outflows recorded over the past four months.
6495The significant Bitcoin purchase comes after Coinbase declared that the majority of the proceeds from the GBTC sell-off would “remain within the crypto ecosystem.”
12923Bitcoin faces its “biggest headwind” in the form of GBTC outflows, but the good times could be back for BTC price action after next week, predictions say.
19982Grayscale’s slice of the Bitcoin ETF pie has fallen below 50% for the first time since it was converted alongside the launch of nine new ETFs in January.
13733Bitcoin ETFs are sucking up the BTC available for purchase, and the tipping point in supply dynamics will come this year, one analyst says.
97620Of the 10 approved ETFs, the Grayscale Bitcoin Trust and Invesco Galaxy Bitcoin ETF were the only two to record net outflows of $332.5 million and $14.2 million, respectively, on March 5.
14446Bitcoin price advances like a steamroller toward all-time highs despite a fresh rebound in GBTC outflows.
12077$60,000 within range after 12.7% gains in 24 hours? Not so fast, according to Bitcoin derivatives metrics.
12914Coinbase forecasts that funds from Genesis’ GBTC sell-off would “remain within the crypto ecosystem” despite fears of potentially impacting Bitcoin’s price.
13300Bitcoin bulls are pushing BTC price higher but is there enough willpower to overcome the resistance at $43,500?
4456Bitcoin price is hovering near the $43,000 level. Do bulls have plans to press BTC higher?
10011GBTC enables investors to access Bitcoin traditionally through shares, offering an alternative to directly owning and managing digital assets.