Apparently 70% of #bitcoin   proceeds from selling $GBTC is NOT expected to be going into other #Bitcoin  funds.

""We expect AT LEAST a THIRD of that cash to shift to other ETFs".

This explains the price dip and I must admit - if true, it is SIGNIFICANTLY higher than I thought and I have completely under appreciated the lack of re-allocation that would happen back into #Bitcoin  funds.

It also means that it will take a lot more time than I had thought to clean up the selling pressure from GBTC.

$BTC