According to HODL15Capital data, the 🇺🇸 Bitcoin spot ETF has been online for 50 weeks, and BlackRock's IBIT has successfully absorbed the selling pressure from Grayscale's GBTC.

When Bitcoin and Ethereum spot ETFs were initially launched, the prices did not immediately surge, leading many investors to be pessimistic about the future market.

However, they did not realize that the short-term decline or volatility following good news is indeed a necessary stage, stemming from the complex process of absorbing selling pressure: profit taking, shifting to low-fee platforms, and the gradual digestion of sell-off pressure by ETF inflows.

There were concerns about whether Genesis could fill the giant hole in its balance sheet, fearing that GBTC could trigger a 'gray' swan event.

Looking back now, that was merely a small episode in the long river of history. Although the historical process has been tortuous, the trend is irreversible; the light boat has already overcome numerous difficulties and is迎接更广阔的前程!