Grayscale‘s spot Bitcoin ETF, a pioneering financial product in the U.S. since its inception on January 11, has experienced a significant market share drop, marking the first time it has fallen below 50%. According to Dune Analytics, as of March 12, the Grayscale Bitcoin Trust (GBTC) managed $28.5 billion, constituting 48.9% of the combined $56.7 billion in assets under management (AUM) across ten U.S. Bitcoin ETFs. Initially, Grayscale dominated the market, with its fund representing approximately 99.5% of the total AUM of the first ten U.S. spot Bitcoin ETFs. However, the landscape has shifted dramatically due to persistent daily withdrawals
