$BTC is actually not a sell-off by Grayscale. According to the information, Fidelity, BlackRock, etc. and Grayscale are actually conducted through over-the-counter transactions, and there is no such thing as a sell-off. You can find out by looking at the transaction volume on coinbase. One day's transaction volume is almost the same as Grayscale's over-the-counter sales. How is this possible? You can also search what coinbase prime is. The drop is purely caused by everyone’s panic.
$BTC The rise and fall of BTC has no impact on BlackRock, Grayscale, etc. They just charge a management fee. The core of ETF is how to attract more investment is the most important. They are actually the ones who want Bitcoin to rise the most. The current decline is just preparation for a better rise when the time comes. Including those who are not determined, the Bitcoin spot ETF will only attract more people to invest if it rises all the way. Hold on to your chips and don’t get off the car! #BTC #BTCETF
$BTC Those who say Grayscale is smashing the market can shut up. Coinbase Prime provides over-the-counter trading for large customers. They trade over the counter. #BTC
The $BTC bottom is coming soon, and when the Fidelity + BlackRock ETF volume exceeds Grayscale, that will be the bottom. Currently 310 million US dollars VS 311 million US dollars. After that, the market will be taken over by new ETFs. It is estimated to be very soon. There was a huge difference in transaction volume before, and it is gradually getting closer.
$BTC Bitcoin ETF project has just started and they are willing to put billions of dollars into it. Are these ordinary people? If they are willing to invest so much at the beginning of the project, then they must be trusted and trusted by Wall Street institutions such as BlackRock and Fidelity. The relationship is extraordinary. Could it be that for these people, the organization would make him a successor? After the short-selling sentiment is vented, Bitcoin will rise with a thunderous sound, making it impossible for those who are short-selling to keep up.
The $BTC market drop was not caused by Grayscale, Grayscale just channeled sentiment. Grayscale's sell-off, I prefer to call it a replacement. Exchange Bitcoin for U.S. dollars over the counter at BlackRock and other institutions. Why are more than 600 million US dollars transferred every time? Its purpose is to balance the price of replacement. Avoid efforts such as Grayscale to raise prices and ship products all at once. To put it simply, it is similar to our fixed investment. This is a constraint for both parties.