Bitcoin24h $82,607.95-11.29%

Ethereum24h $2,073.77-12.47%

XRP24h $2.32-13.01%

BNB24h $566.80-6.38%

Solana24h $134.23-18.36%

Dogecoin24h $0.1897-14.31%

Cardano24h $0.7879-20.82%

TRON24h $0.2332-3.97%

Pi24h $1.75+0.92%

Hedera24h $0.2337-6.25%

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.