Grayscale has reduced the rate at which it is transferring out its Bitcoin assets, as observed by blockchain experts. Arkham Intelligence revealed in a recent tweet on Tuesday that Grayscale transferred more than 4,400 BTC to its custodian, Coinbase, within the previous 24 hours. Currently, the value of this amount of Bitcoin is less than $200 million. However, the most recent unloading amounted to “under 50% of the average daily quantity from the previous week.” At the start of the month, the investment manager, which operates under the Digital Currency Group umbrella, was heavily liquidating its cryptocurrency holdings, at times transferring as much as $2.2 billion to a US-based exchange within a span of a few days. Such actions seemed to negatively impact the market value of the digital currency. Presently, market analysts such as those at Arkham believe the organization might be nearing the end of this selling spree. On Tuesday, Arkham inquired whether Barry had completed his sales. Referring to DCG (Digital Currency Group) CEO Barry Silbert, it has been reported that Grayscale began transferring its Bitcoin holdings to Coinbase. This move was made in preparation for the conversion of its fund into a Bitcoin exchange-traded fund (ETF), which took place on January 10th. Before becoming an ETF, Grayscale’s Bitcoin Fund functioned as a closed-end fund, requiring investors to retain their shares for a minimum of half a year. With its transformation into a sought-after investment option, there has been a notable eagerness among investors to liquidate their investments. Experts were divided on the impact that the anticipated sanctioning of Bitcoin ETFs would have on BTC’s value, with some predicting a significant surge. Initially, the price momentarily spiked to touch the $49,000 mark per coin, a level it hadn’t reached since 2021. However, it subsequently fell in response to activity from Grayscale. With the current price of Bitcoin standing at $43,535, marking an increase of 11% over the week, there is speculation about whether the cryptocurrency is on a path to further gains. Curated by Ryan Ozawa. Keep abreast of cryptocurrency news with daily summaries delivered to your email. Enter your email address.