2024

Prime

Arkham

Grayscale Bitcoin Trust

<div class="cryptonews">
 <p class="is-style-lead">Grayscale Bitcoin Trust transferred approximately 4,000 BTC, valued at $183 million, to Coinbase Prime deposit addresses.&nbsp;</p>
 <p>This was revealed from the latest data of Arkham Intelligence. Grayscale’s spot Bitcoin ETF, known for its comparatively high fee structure at 1.5%, may be witnessing a shift as investors explore options in response to the SEC’s recent approval of several spot Bitcoin ETFs.</p>
 <p>Other ETFs, managed by companies like BlackRock, VanEck, ARK 21Shares, and Bitwise, offer more competitive fees, ranging from as low as 0.2% to 1.5%, with some even introducing introductory waivers​​​​.</p>
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   <img decoding="async" width="910" height="174" src="https://cdn.thebittimes.com/images/2024/01/13/781686d5fff7d3f778acdd96b7dde15a.webp" alt="Grayscale moves $183m in BTC amid ETF fee competition - 1"> 
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   Grayscale’s transfer history to Coinbase addresses | Source: Arkham
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 <p>The Bitcoin market itself is undergoing notable changes. After the SEC’s approval of various Bitcoin spot ETFs, the price of Bitcoin reached a peak of approximately $49,000, only to fall to around $43,500, marking a 5.5% decrease within a single day. This price volatility could be attributed to several factors, including market response to the new ETFs and a potential supply shock resulting from major transactions like Grayscale.</p>
 <p>Previously, several analysts had also suggested that significant fluctuations in Bitcoin’s value can be anticipated as the market adjusts to these new investment vehicles.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/grayscale-moves-183m-in-btc-amid-etf-fee-competition-tbt76442.html">https://thebittimes.com/grayscale-moves-183m-in-btc-amid-etf-fee-competition-tbt76442.html</a></p>

Grayscale moves $183m in BTC amid ETF fee competition

TheBitTimes

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