Bitcoin ETFs show a decrease in holdings.
According to Odaily, Lookonchain, a blockchain analytics startup, stated on July 4th that Grayscale and nine other Bitcoin Exchange Traded Funds (ETFs) had reduced their Bitcoin holdings. Grayscale, a digital currency asset manager, cut its Bitcoin holdings by 535 units, totaling over $30.7 million. Despite this decline, Grayscale still owns 274,724 Bitcoin units, worth approximately $15.76 billion.
In addition to Grayscale, nine other Bitcoin ETFs cut their holdings by 609 units, which amounts to approximately $35 million. The study did not explain the reasons for these decreases. However, these changes in holdings do not necessarily suggest a the market trend is gloomy. When assessing these numbers, investors and market experts should take several aspects into account.
Source : Binance News