Why is grayscale dumping BTC?
According to ash crypto.
Before the spot ETF approval, GBTC Used to redeem It's shares by giving investors USD value, but they never sold the BTC.
Thats Why Grayscale Become one of the largest BTC holders, beside satoshi.
Now, with thek spot ETF approval, investors and 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 issues.
➡️A Lot of investors bought GBTC At a 40% discount, and now It's at 0%, so they are exiting their position.
In both scenarios. GBTC Now has to sell BTC To Pay It Back.
When will this stop?
Tjis can take a few weeks, and durning that time, BTC can go sideways or even go down.
Once it settle, investors will put their money from GBTC into others 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
