Digital asset management giant, Grayscale Trust, sent 12,213 Bitcoins worth $488 million to Coinbase Prime on January 25th, showcasing the dynamic nature of crypto movements.
This marked a decrease from the previous day’s transfer of 19,236 BTC. Arkham Intelligence data reveals total outflows from Grayscale to Coinbase Prime now stand at 105,910 BTC ($4.168 billion) since January 12th.Â
In parallel, newly introduced spot Bitcoin exchange-traded funds (ETFs) recorded their lowest trading volume since January 11, 2024, with $1.28 billion on Wednesday.
Grayscale’s Bitcoin Trust (GBTC) also sold 13,178.50 BTC ($527 million) in the last 24 hours. As of January 25th, GBTC holds 523,516.43 BTC, down by 93,563.56 BTC since January 12th.
Despite a less vigorous trading session, GBTC commanded $610 million of the $1.28 billion total volume on Wednesday. Other spot Bitcoin ETFs are steadily accumulating, with a combined total of 122,831.77 BTC, valued at $4.91 billion.
The crypto market’s recent dynamics, marked by Grayscale Trust’s substantial Bitcoin movements and declining ETF trading volumes, reflect both the adaptability and evolving nature of digital asset investments.
Also Read: Bitcoin Might Face $34K Correction Amid Grayscale Sales
