Let's sort out the situation of ETFs.
Approved 19B-4 of 8 companies including Grayscale, but did not approve S-1s (almost certainly approved, just a matter of time).
S-1s takes 3-5 months, and then trading starts. This time it may be accelerated to approval within a few weeks.
In the next 10 days, the committee can theoretically raise questions (it shouldn't happen, the people in it are in cahoots with each other).
Short-term positives have been fully released in the news on Monday, so today's price reaction is not obvious.
A 10% drop before approval is a leverage kill, just like the flash crash of 59,000 on March 6.
Before the ETF is officially traded, every step of progress will be a small positive, pushing the price up.
After trading starts, there may be a situation where Grayscale dumps the market, because Grayscale and other companies were approved at the same time.
