Bitcoin SV

Bitcoin

Grayscale Bitcoin Trust

Grayscale is one of the most prominent companies that held Bitcoin. The spot ETFs approval has created many opportunities for small investors, with little funds to buy and hold a portion of Bitcoin at any extra cost.&nbsp;
The approval of the Bitcoin spot ETF led to an injection of over Billions into the Bitcoin ecosystem. Almost every spot ETF provider has grown sharply, however, GrayScale ETF has faced a massive downfall since its inception.&nbsp;
As per Dune Analytics, on March 12, the Grayscale Bitcoin Trust (GBTC) operated $28.5 Billion, comprising 48.9% of the converged $56.7 Billion in assets under management (AUM) across ten U.S Bitcoin spot ETFs.&nbsp;
The data further states that Grayscale’s market share in the ETF category is 46.2%, followed by BlackRock at 26.9%, Fidelity at 15.9%, 21Shares at 4.8%, and Bitwise at 3.5%, including others.&nbsp;
Regarding Fees, Franklin Templeton charges nominal fees of 0.19% on the trading of its ETF, followed by Bitwise 0.20% fees, and 21 shares 0.21%. As of writing, the AUM of GrayScale ETF was $26.0 Billion.&nbsp;
On March 15, 2024, the total value locked of <a href="https://www.thecoinrepublic.com/2024/03/06/grayscale-announces-new-fund-gdif-staking-multiple-tokens/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a> GBTC Onchain holdings was 383,685. Currently, 4.23% of Bitcoin’s current supply is used for ETFs.&nbsp;
<h2 class="wp-block-heading" id="strong-bitcoin-spot-etfs-pumped-bitcoin-at-verge-strong">Bitcoin Spot ETFs Pumped Bitcoin at Verge!</h2>
Since its evolution, Bitcoin, the market leader, has traded highest at $73,750 on March 14, 2024. Dozens of market observers claim that thousands of new users have opted to hold Bitcoin after the green signal over spot ETFs.&nbsp;
Since its launch, BTC spot ETF has seen an inflow of $11.96 Billion. GrayScale is one of the most prominent Bitcoin holders in the crypto market.&nbsp;
<h3 class="wp-block-heading" id="strong-sec-s-role-in-spot-etfs-popularity-strong">SEC’s Role in Spot ETFs Popularity&nbsp;</h3>
The Bitcoin spot ETF secured regulatory approval in mid-January 2024. Before the approval, the ETF application faced several rejections from the SEC.&nbsp;
The entire cryptocurrency market has shown impressive growth since the beginning of 2024. Every statement of the Securities and Exchange Commission over digital assets and the crypto industry also affects the price movement.&nbsp;
As the United States is a leading cryptocurrency market, any decision of U.S. regulators profoundly affects the global crypto market.&nbsp;
<h4 class="wp-block-heading">Market Price Update&nbsp;</h4>
The fear and greed index of CoinMarketCap shows extreme greed, with 89 points, which might lead to bearishness in the market. The market capitalization of cryptocurrencies has slipped 4.58% over the past 24 hours.&nbsp;
Bitcoin, the market leader, has most recently traded at its all-time high price of $73,750; the price failed to sustain higher for a longer time. As of writing, BTC was trading at $68,384, with an intraday decline of 4.46%.&nbsp;
As of writing, the gainers list is led by Jupiter (JUP) as its price grew more than 10.30% in the past 24 hours, followed by Conflux (CFX) at 8.21%, Solana (SOL) at 7.49% and Sei (SEI) at 5.00%. After losing 17.68% of the trading volume, Injective (INJ) became the leader of the intraday loser list, Bitcoin SV lost 15.35%, and IOTA lost 10.56%.&nbsp;
<h4 class="wp-block-heading">Disclaimer</h4>
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;

Grayscale ETF in Troubles Despite 46.2% Marketshare- Data

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Thecoinrepublic.com

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