Grayscale GBTC’s Bitcoin holdings have fallen by 50% since the launch of the US Bitcoin spot ETF

According to BlockBeats, on April 16, The Block reported that Grayscale's GBTC Bitcoin holdings have halved in about three months since the launch of the U.S. spot Bitcoin exchange-traded fund on January 11. At the start of Bitcoin spot ETF trading, GBTC held about 619,220 bitcoins. GBTC's information disclosed as of Monday showed that its Bitcoin holdings subsequently fell by about 50% to around 311,621, and its fees were much higher than its competitors. For example, GBTC charges a fee of 1.5%, while BlackRock's IBIT currently charges a fee of 0.12%. According to The Block's data dashboard, GBTC's market share has fallen from 100% on the day of its launch to 37.3% yesterday. IBIT gained 32.2% of the share during this period, and FBTC ranked third with 17.8%.