#BTC# Tell a ghost story, grayscale has a total of more than 600,000 BTC of GBTC, trapped by the super discount for 4 years, and now can be redeemed at parity, while also enjoying the rise of Bitcoin, what will these investors choose?

On the first day of listing of spot ETFs, grayscale GBTC traded $2.3 billion, accounting for half of the total turnover of 4.6 billion, and grayscale is the most expensive among the 11 institutions, as high as 1.5%, and the others are mostly between 0.25% and 0.5%, which almost shows that all GBTC is converted into ETFs, which must not belong to incremental funds, and the trading volume of 2.3 billion is only 50,000 coins, which is 10% of the total plate Although these goods may not all be sold, the selling pressure is inevitable and will last for a period of time, and the difficulty of rushing 5w in the short term can be imagined.
If you subtract BlackRock's 1 billion (BlackRock is also an ETF exchanged for existing bitcoin in hand, non-incremental), there will be more than 1 billion transactions left, of which Sister Wood ARK and Fidelity account for another 1 billion, it can basically be completely judged that the increment from the first day of the Bitcoin spot ETF is very little, and it is believed that the ETF will be eternal after approval, and should not face up to the possibility of this short-term pullback?
In addition, the relay ETH has also seen a pullback, the risk is coming as scheduled, not in vain K God a few days ago the risk of continuous prompts, if the subsequent sharp pullback, there will be a good opportunity to participate, I will consider the SOL ecology more on dips, the reason is very simple, after the United States formalizes the financialization of Bitcoin, it is the game of the Americans, the game of the Americans must play the public chain of the Americans, the Americans will continue to blossom and bear fruit on it, and the leader is SOL~