BlackRock's IBIT Bitcoin holdings may surpass Grayscale's GBTC within 3 weeks
Media reports suggest that, based on current traffic, the number of Bitcoins in the Laid Bitcoin ETF could surpass Grayscale GBTC, a cryptocurrency asset management company, within the next three weeks. As of March 22nd, BNY Mellon's Bitcoin ETF held 238,500 Bitcoins on its books while Grayscale GBTC held approximately 350,252 BTC. Assuming no drastic changes in inflow and outflow rates, it is projected that by April 11th BNY Mellon's total holdings of Bitcoin may exceed those of Grayscale. If BNY Mellon's inflow returns to an average daily rate of 7,200 bitcoins from the previous week then this date might be even closer - meaning a reversal could occur within ten days.
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