🚨 IMPORTANT 🚨
Grayscale is dumping BTC and its taking a toll on the BTC price.
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. #BTC #bitcoin $BTC
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