![Grayscale crypto holdings up $1.2 billion since last week as Bitcoin surges](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2024/01/grayscale-bitcoin-1.jpg&w=70&h=37&q=75)
Following a persistent decline in Bitcoin outflows from the Grayscale Bitcoin ETF, Bitcoin’s recent surge from $39,900 to over $43,500 has seen the value of Grayscale’s crypto holdings grow by $1.25 billion since the end of last week.
![Grayscale Holdings (source: Arkham Intelligence)](https://cryptoslate.com/wp-content/uploads/2024/01/Screenshot-2024-01-30-122120.png)
While roughly 18,000 BTC has left the fund since Friday, as per Arkham Intelligence data, the price increases across the board offset this. Grayscale’s Bitcoin holdings are up $968 million, while itsย Ethereum holdings are up $298 million.
Given that spot ETFs settle in cash and not Bitcoin, even though there is less Bitcoin in the fund, Grayscale’s fees, at 1.5%, are higher. At present, annual revenues, based on current holdings, are estimated to be $429 million, with Bitcoin at $43,400.