Grayscale Bitcoin Trust has transferred approximately 4,000 bitcoins. $183 million, to Coinbase (NASDAQ:COIN) Prime deposit addresses.
This was revealed by the latest Arkham Intelligence data. Grayscale's spot Bitcoin ETF may see... Known for its relatively high 1.5% fee structure, it has seen a shift as investors explore options in response to the SEC's recent approval of several spot Bitcoin ETFs.
Offers other ETFs. Managed by companies such as BlackRock, VanEck, ARK 21Shares, and Bitwise. More competitive fees range from 0.2% to 1.5%, and some even offer introductory waivers.
The Bitcoin market itself is undergoing notable changes. After the Securities and Exchange Commission approved several Bitcoin ETFs. The price of Bitcoin reached a peak of around $49,000, falling to around $43,500. Recording a decrease of 5.5% within one day. This price volatility can be attributed to several factors. Including the market response to new ETFs and the potential supply shock resulting from major transactions such as Grayscale.
Previously, many analysts have also suggested that significant fluctuations in the value of Bitcoin can be expected as the market adapts to these new investment vehicles.
