🚨 IMPORTANT 🚨 Why is Grayscale Dumping BTC ? Before the spot ETF approval, GBTC used to redeem its shares by giving investors USD value, but they never sold the BTC. That's why Grayscale became one of the largest BTC holders, beside Satoshi. Now, with the spot ETF approval, investors are pulling their money out of GBTC for two reasons. ➡️ Grayscale is charging a 1.5% yearly management fee, which is 5–6 times higher than other ETF issuers. ➡️ A lot of investors bought GBTC at a 40% discount, and now it's at 0%, so they are exiting their positions. In both scenarios, GBTC now has to sell BTC to pay it back. When Will This Stop? This can take a few weeks, and during that time, BTC can go sideways or even go down. Once it settles, investors will put their money from GBTC into other ETFs that have a low management fee. Remember, this is a long-term game, and you need to have patience; otherwise, you will lose your BTC to Wall Street. Please like and share
@Ashcryptoreal We are getting twice as many inflows as outflows though and have had 21,500 Bitcoins = $450M of net inflow, so that isn't the cause?
@Ashcryptoreal I said fuck it and bought $IBIT. Less drama and better returns. #blackrockETF
@Ashcryptoreal Now they’re in controle so like I said few weeks ago not happy with etf
@Ashcryptoreal the bears gotta eat...let them in the short term