Bitcoin24h $81,959.43-5.13%

Ethereum24h $1,785.50-6.39%

XRP24h $2.05-4.59%

BNB24h $587.33-2.91%

Solana24h $115.31-11.81%

Dogecoin24h $0.1587-8.55%

Cardano24h $0.6383-7.12%

TRON24h $0.2356-1.48%

Toncoin24h $3.59-10.14%

UNUS SED LEO24h $9.39-0.34%

Does Grayscale have enough GBTC to sell bitcoin into March?

Grayscale has over 530,000 bitcoin and could theoretically keep selling into mid-March, but as a passive ETF manager, that’s highly unlikely.

Grayscale bought bitcoin for a decade then became its #1 seller overnight

Grayscale must ensure that GBTC’s share price tracks bitcoin’s price. This requires selling and buying bitcoin every day.

In two days of trading last week, the new SEC-approved spot bitcoin ETFs attracted approximately $819 million of net new cash inflows.

Grayscale has won a victory in its case against the SEC, with the judge ruling previous denials of GBTC ETF conversion were “arbitrary.”

Grayscale says it will consider a 20% share buyback of its bitcoin trust, GBTC, if it cannot convince the SEC to convert it into an ETF.