According to Foresight News, since the launch of the US spot Bitcoin ETF on January 11, Grayscale's GBTC Bitcoin holdings have halved in about three months, from 619,220 to around 311,621. However, given the simultaneous rise in Bitcoin prices since the launch of the spot ETF, the decline in dollar assets managed by GBTC is smaller, falling from $28.7 billion on January 11 to the current price of $19.8 billion, a drop of 31%.
GBTC charges much higher fees than its competitors, currently at 1.5%, while BlackRock's IBIT currently charges only 0.12%. GBTC's market share has dropped from 100% on January 11 to 37.3% yesterday. During this period, BlackRock's IBIT gained a 32.2% share, with FBTC ranking third, accounting for 17.8%. The total assets held by all US spot Bitcoin ETFs are currently close to 840,000 BTC, accounting for more than 4% of the total Bitcoin supply of 21 million.