Can grayscale actually sell bitcoins (BTC) after unlocking gbtc shares?

The current volatility and lateral movement in Bitcoin prices was explained by the ongoing unlocking of grayscale’s flagship bitcoin trust $GBTC.  Many believe unlocking stocks after 6 months will put pressure on the spot market in the short term. However, it is important to note that Grayscale did not sell BTC after the stock expired.

Investors buy bitcoin to deposit into the gbtc fund and take shares against the BTC Deposit, so bitcoin held in the GBTC never moves, in October, in addition to the 2% management fee charged by Greyscale.

Unlocking these stocks is still declining in the short term because the GBTC premium tends to decline during the sale period, so investors have more incentive to buy gbtc shares from bitcoin at the bargain price.

Source: Ycharts
The GBTC premium is currently at -1.25%, meaning that after selling their shares in the spot Sunday, traders can buy those shares again at an 11% discount from BTC at the spot price.

GBTC premium plays an important role during the 6-month retention period, with corporate buyers hoping to sell at a premium higher than the price purchased. April December GBTC traded in a positive price range with a premium for most of the first quarter, but came out negative after April. In the absence of a regulated bitcoin exchange fund, Grayscale crypto products have become a popular choice for investors. The world’s leading asset manager also plans to turn GBTC into a bitcoin ETF next year.

Bitcoin Price Loses Significant Boost On Chain
The top cryptocurrency has lost more than 50% of its ranking since approaching $ 65,000 in April. BTC has not been able to overcome the $ 35k key resistance in various cases and is currently trying to keep the $ 31.5k support.

The challenge of leading cryptocurrencies to exit the current price December has led retail players to find themselves in the low liquidity market. Bitcoin can’t stick to $ 30k support, so the decline phase may continue.

Message can really sell grayscale

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