Share this article
BTC
$83,394.49
+
8.36%ETH
$1,672.64
+
13.49%USDT
$0.9997
+
0.05%XRP
$2.0824
+
14.01%BNB
$582.69
+
4.51%SOL
$119.64
+
13.23%USDC
$0.9999
-
0.01%DOGE
$0.1640
+
14.04%ADA
$0.6426
+
14.21%TRX
$0.2379
+
2.89%LEO
$9.3511
+
4.03%LINK
$12.78
+
16.15%TON
$3.2334
+
7.12%AVAX
$18.63
+
15.26%XLM
$0.2445
+
9.26%SUI
$2.2711
+
14.96%HBAR
$0.1716
+
14.50%SHIB
$0.0₄1206
+
12.66%OM
$6.5719
+
6.10%BCH
$308.50
+
13.57%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
BlockFi Boosted Grayscale Bitcoin Trust Holdings by 11.9M Shares, Now Holds $1.7B GBTC
The disclosure comes as BlockFi prepares to launch a competitor bitcoin trust product.
Crypto lender BlockFi on Friday revealed it holds $1.7 billion in shares of the Grayscale Bitcoin Trust, or 5.66% of the market-leading institutional bitcoin investment vehicle.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The 36.1 million GBTC shares now held by BlockFi represents an 11.9 million increase from its previous holdings of 24.2 million shares, first disclosed last October.
- BlockFi CEO Zachary Prince previously told CoinDesk the GBTC holdings “add value” to the “marketplace for liquid and illiquid” shares. “There are lending markets related to GBTC,” he said at the time.
- BlockFi's ongoing stake in GBTC is particularly notable due to BlockFi's intentions to launch a bitcoin trust product that directly competes for institutional dollars that might otherwise flow into GBTC.
- Grayscale is owned by CoinDesk parent company Digital Currency Group.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
