GBTC's BTC holdings fall under 500,000 amid rising rival accumulation

The most recent statistics from Grayscale's GBTC show its Bitcoin holdings have dropped below 500,000, following a reduction of 6,138.79 bitcoin from its reserves in the past day.

Meanwhile, Blackrock's IBIT has grown its Bitcoin assets by 4,603.24 bitcoin, worth approximately $199 million.

Therefore, while GBTC's Bitcoin assets are on the decline, competing funds are seeing an increase.