January 3, 2024

Two days before the ETF was approved, I said it could be cleared.

Because I feel that no matter whether it passes or not, it will eventually fall.

Because it won’t be popular anymore

SOL was 100+ short last week

ordi75 short

Reasons why Grayscale keeps shipping:

Currently, Grayscale still has more than 500,000 GBTC in hand.

The reason for grayscale shipments is that GBTC was not an ETF and could not be redeemed directly in cash or in kind.

And Grayscale’s custody fee is 1.5%. Other ETFs like Fidelity and BlackRock are about 0.3%, so Grayscale users will redeem their assets and choose another ETF even if they don’t sell.

We all have to wait and see what happens in the end.