Grayscale Shifts $183M in BTC to Coinbase

Grayscale Shifts $183M in BTC to Coinbase



The recent transfer of around 4,000 BTC by Grayscale Bitcoin Trust, estimated at $183 million, to Coinbase Prime's deposit accounts has come to light through Arkham Intelligence's latest insights. This move is of particular interest amidst Grayscale's launch of a spot Bitcoin ETF, distinguished by its relatively steep fee of 1.5%. The shift in investor preference is becoming more apparent in the wake of the SEC sanctioning multiple spot Bitcoin ETFs.



In this evolving landscape, other ETFs managed by major players like BlackRock, VanEck, ARK 21Shares, and Bitwise are stepping up the competition with more appealing fee structures, varying from 0.2% up to 1.5%. Some of these ETFs are even offering temporary fee waivers to attract investors.



The Bitcoin market itself is experiencing significant dynamism. Post the SEC's endorsement of


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#BTC, #Coinbase, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Grayscale, #News

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