Grayscale Deletes 'World's Largest BTC ETF' Phrase From GBTC Profile
CryptoNewsTerminal Staff25 May, 2024
Grayscale Deletes 'World's Largest BTC ETF' Phrase From GBTC Profile
Grayscale has quietly removed the phrase "world's largest bitcoin ETF" from the description of its Grayscale Bitcoin Trust (GBTC) on its official website. This change was noticed by crypto analyst @hodl15capital on Twitter. The move comes amidst expectations that BlackRock's iShares Blockchain and Tech ETF (IBIT) could soon surpass GBTC's bitcoin holdings. As of writing, GBTC holds 289,040 BTC, while IBIT holds 287,167 BTC—figures that are very close. Grayscale's decision to remove the phrase "world's largest bitcoin ETF" from its GBTC profile is likely due to the fact that IBIT is quickly catching up to GBTC in terms of bitcoin holdings. This change is also reflective of the growing competition in the bitcoin ETF space.
