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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.