Summary
Grayscale’s bitcoin ETF, GBTC, has had the highest trading volumes since it launched in January. However, recently, many GBTC investors have been selling their holdings and moving to other providers, causing selling pressure in the market.
Key Points
1. Grayscale has been the leading bitcoin ETF in terms of trading volumes since its listing in January.
2. The majority of these trading volumes have resulted in selling pressure as GBTC investors have taken profits and moved to other providers.
3. Some banks have previously mentioned the shift in investor behavior away from GBTC as a reason for the increased selling pressure.