According to Odaily, official data reveals that as of May 21, Grayscale's Bitcoin ETF, GBTC, held 289,511.9047 BTC, while BlackRock's Bitcoin ETF, IBIT, held 281,883.91970 BTC. The difference between the two has decreased to 7,627.985 BTC, and the market value gap has also reduced to less than 500 million dollars, specifically 444,805,623.27 dollars.
Grayscale and BlackRock are two of the leading financial institutions that have invested heavily in Bitcoin ETFs. The recent data indicates a narrowing gap between the two in terms of their Bitcoin holdings. This suggests a competitive landscape in the Bitcoin ETF market, with both institutions vying for a larger share of the market.
The reduction in the market value gap between the two Bitcoin ETFs is also noteworthy. It indicates that the value of the Bitcoin held by both ETFs is becoming increasingly similar. This could potentially lead to more competition in the market, as both ETFs strive to increase their holdings and market value.
