2024

Bitcoin

Grayscale Bitcoin Trust

Billion

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An interesting situation happend today in the world of cryptocurrency market statistics.&nbsp;<a href="https://x.com/lookonchain/status/1818664023883473063" rel="noopener noreferrer nofollow">Lookonchain</a> reported a huge outflow from&nbsp;<a href="https://u.today/fidelitys-bitcoin-etf-debuts-in-london" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>, saying that in the last 24 hours, 26,823 BTC, equivalent to more than $1.7 billion, have flowed out of nine investment products.&nbsp;
According to the report, despite inflows of 1,138 BTC into BlackRock's IBIT Bitcoin ETF, 27,753 BTC flowed out of Grayscale Bitcoin Trust, making it look like such a huge outflow. It really was.&nbsp;
However, the fact is that almost all of Grayscale's BTCs have not just flowed somewhere, but into the new Grayscale Bitcoin Mini Trust. As a result, the total net inflow of Bitcoin-related investment products for the day in question was 113 BTC, or $7.48 million.
<blockquote>
 July 31 Update:9 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETFsNetFlow: +113 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>(+$7.48M)🟢<a href="https://twitter.com/hashtag/iShares?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#iShares</a>(Blackrock) inflows 1,138 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($75.27M) and currently holds 342,659 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($22.66B).<a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> moved 26,936 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($1.78B) to Grayscale Bitcoin Mini Trust today.9 <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> ETFsNetFlow: -15,691… <a href="https://t.co/rUrRZMJjZt" rel="noopener noreferrer nofollow">pic.twitter.com/rUrRZMJjZt</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1818664023883473063?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 31, 2024</a>
</blockquote>
Lookonchain further corrected the error in the post.
<h2 dir="ltr" id="what-is-grayscale-bitcoin-mini-trust">What is Grayscale Bitcoin Mini Trust?</h2>
The Grayscale Bitcoin Mini Trust was introduced by Grayscale Investments in July 2024. This product is essentially a smaller variant of the original Grayscale Bitcoin Trust (GBTC). Unlike some other crypto investment products, the Mini Trust directly tracks&nbsp;<a href="https://u.today/crucial-bitcoin-fix-the-money-tweet-published-by-michael-saylor" rel="noopener noreferrer nofollow">Bitcoin's price</a>, offering a more straightforward investment approach.
The Mini Trust is a spinoff from GBTC, created by distributing 10% of GBTC's underlying&nbsp;<a href="https://u.today/ripple-cto-defends-bitcoin-commodity-status-details" rel="noopener noreferrer nofollow">Bitcoin</a>. It targets investors seeking BTC exposure with a smaller initial investment compared to GBTC. The trust trades on the NYSE Arca exchange, offering a regulated avenue for investors, although it is not governed by the Investment Company Act, similar to GBTC.

No, Bitcoin ETFs Didn't Lose $1.7 Billion in 24 Hours

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