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This Pic Summarizes it all (Patreon)

Published:
2024-01-15 17:38:38
Imported:
2024-01
Tags:

Content

Overall a good two days but once again - Grayscale Screwed The Pooch

  1. Inflows into 10 new Bitcoin ETFs hit $1.4 billion over Thursday and Friday.
  2. Net inflow of $818.9 million into the 10 new vehicles, after subtracting GBTC's outflows of -$579 million.
  3. Rotation from GBTC to lower-fee ETFs causing new ETF-related inflows to be neutral to Bitcoin's price.
  4. GBTC selling its underlying Bitcoin holdings to offset new bitcoin-buying from new vehicles.
  5. Reduction in GBTC's management fee or completion of investor rotation into lower-fee vehicles needed for outside capital to impact Bitcoin's price.

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Comments

Anonymous

What if they all made deals with the US government to buy their stash for cheap, rumor has it they have one of largest BTC bags out there from various seizures. Guessing it would still be easy to track based on known wallet addresses?

Anonymous
>>127072283

Ive seen this rumour around. This is the only way the US govt can control bitcoin. With all the hype on ETFs and bitcoin, then continuously trade their bitcoin to blackrock and others OTC to effectively turn Bitcoin into a stable coin, so it looses interest and fades sway. Would love for someone to investigate further.

Anonymous

So basically won’t see a rise in price until grayscale complete its move into etfs and all transactions are settled?