Grayscale Holds 490K+ Bitcoins, BTC Sell-Off Slows Down

• According to Wu Blockchain, Grayscale holds 496,573.8166 BTCs as of January 29.
• Lookonchain cites a Grayscale deposit of $4.91 billion of BTCs to Coinbase.
• Grayscale’s GBTC outflow is also slowing down, with today’s mark of $191.7 million.

The latest data revealed that the financial giant Grayscale holds 496,573.8166 Bitcoins as of January 29. According to the Chinese reporter Wu Blockchain, Grayscale has sold a staggering 120,500 BTC, equivalent to almost $5.508 billion, since the Spot Bitcoin ETF approval on January 11.

Reportedly, Grayscale’s sell-offs are slowing down after the giant deposited a total of $4.91 billion worth of Bitcoin to Coinbase. Lookonchain, a prominent crypto analytics platform, took to X to share insights on Grayscale’s most recent transfer of 6,534 BTC ($274.95 million) to Coinbase Prime, the exchange’s f…

The post Grayscale Holds 490K+ Bitcoins, BTC Sell-Off Slows Down appeared first on Coin Edition.