Found an interesting pattern
When Coinbase was listed back then, some people said that now compliant funds finally have channels to enter the market.
You can buy coins through coinbase in the future, and then a month later, 519 comes
Now that spot ETFs are on the market, some people say that Wall Street capital can finally get involved.
I would bring a lot of cash to buy Bitcoin, but it fell 15% after 48 hours.
Needless to say, the biggest beneficiaries of this wave of Bitcoin spot ETFs are GBTC holders
Over the years, Grayscale has had a total of more than 600,000 BTC of GBTC trapped in negative premiums, and now it can finally be redeemed at a fair price.
Moreover, Grayscale has the most expensive handling fee among the 11 institutions, as high as 1.5%, while others are between 0.25-0.5%.
Bitcoin reaching 48,000 will be profitable for many GBTC holders, so many people will choose to quit cashing out
The negative premium of GBTC can also illustrate this problem
Therefore, the adoption of ETF does not mean that it is in place in one wave. You will no longer be able to get on the bus. You still need to go to the market to baptize and settle, so that you can slow down and slowly become rich.
This is why I have been reminding everyone these days to stay calm and not to be FOMO
The market never lacks opportunities. You can never make all your money, but you can only lose all your money.
#BTC ➕
#ETF =
#BETF In memory of
#ETF by ✅