Around 134,000 BTC has been bought by the nine newly launched funds since Jan. 11. Meanwhile, Bitcoin’s price is pushing above $42K. This stash is currently valued at around $5.6 billion. BlackRock and Fidelity have been the biggest purchasers of Bitcoin. Ark 21Shares is the third largest buyer of Bitcoin with 13,285 BTC purchased worth $555 million, followed by Bitwise with 12,840 coins worth $536 million. GBTC holders have been dumping shares and rebalancing their portfolios.
Source: Martin Young, 2024-01-29; https://cryptopotato.com/bitcoin-pushes-above-42k-as-grayscale-outflows-slow/