Grayscale crypto holdings up $1.2 billion since last week as Bitcoin surges

Following a persistent decline in Bitcoin outflows from the Grayscale Bitcoin ETF, Bitcoin’s recent surge from $39,900 to over $43,500 has seen the value of Grayscale’s crypto holdings grow by $1.25 billion since the end of last week.

Grayscale Holdings (source: Arkham Intelligence)
Grayscale Holdings (source: Arkham Intelligence)

While roughly 18,000 BTC has left the fund since Friday, as per Arkham Intelligence data, the price increases across the board offset this. Grayscale’s Bitcoin holdings are up $968 million, while its  Ethereum holdings are up $298 million.

Given that spot ETFs settle in cash and not Bitcoin, even though there is less Bitcoin in the fund, Grayscale’s fees, at 1.5%, are higher. At present, annual revenues, based on current holdings, are estimated to be $429 million, with Bitcoin at $43,400.

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Source: https://cryptoslate.com/insights/grayscale-crypto-holdings-up-1-2-billion-since-last-week-as-bitcoin-surges/