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Grayscale's GBTC has experienced a significant outflow of 13,793.09 bitcoin, valued at approximately $571 million, in just 24 hours. This substantial withdrawal brings the total bitcoin holdings of GBTC down to 605,890.87, a notable decrease from its previous holdings of 617,079 BTC as of January 14, 2024 ¹. This recent decline in reserves marks another major outflow from Grayscale's assets, with a total of 24,981.22 BTC withdrawn from the fund over the course of just four days. This substantial outflow represents a removal of over $1 billion from the fund. The Grayscale Bitcoin Trust ETF (GBTC) has been facing rising competition from other Bitcoin ETFs, which may have contributed to the recent outflows. As the first spot Bitcoin exchange-traded product to commence trading in the US, GBTC has been a popular choice for investors seeking exposure to Bitcoin. However, with the emergence of new competitors, investors may be exploring alternative options for investing in Bitcoin ². It's worth noting that GBTC has undergone significant changes in recent times, including its uplisting to NYSE Arca as a spot Bitcoin ETP in January 2024. Despite these changes, the fund has continued to experience outflows, highlighting the challenges faced by GBTC in the increasingly competitive Bitcoin ETF market ³.

NYSE’s Strategic Move — Bitcoin ETF Options Poised to Boost Market Dynamics In a groundbreaking move, NYSE Arca Inc. has submitted a proposal to amend its rules to enable options trading on commodity-based trust shares, specifically targeting bitcoin-based ETFs. This initiative, detailed in the 19b-4 filing with the SEC, marks a significant advancement in the financial products available for crypto investors. The NYSE’s proposal aligns with the surging interest in bitcoin ETFs, which saw a trading volume of $9.6 billion within just three days of their introduction. NYSE Arca Eyes Options Trading for Bitcoin ETFs in Finance Sector Breakthrough The filing by the New York Stock Exchange (NYSE), under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4, seeks to amend a rule to permit options trading on commodity-based trust shares such as the new BTC-based financial instruments. This.

SEC Chair Gary Gensler Was the Deciding Vote Approving Spot Bitcoin ETFs The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, cast the deciding vote approving 11 spot bitcoin exchange-traded funds (ETFs) in a landmark decision on Wednesday. Before the approvals, the securities regulator held a vote on spot bitcoin ETFs, with two commissioners favoring and two opposing. Gensler’s vote tipped the scales in favor of approval. Gensler’s Vote Tips the Scales in Favor of Spot Bitcoin ETF Approvals Before approving spot bitcoin exchange-traded funds (ETFs) on Wednesday, the U.S. Securities and Exchange Commission (SEC) held final votes on the rule changes proposed by NYSE Arca, Nasdaq, and Cboe BZX to list and trade the funds. Two SEC commissioners, Hester Peirce and Mark Uyeda, voted for approval, while Caroline Crenshaw and Jaime Lizárraga opposed it. The vote split at 2-2, .

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