Per Thielen, investors in Grayscale’s ETF, the Grayscale Bitcoin Trust (GBTC), switching to other low-fee options will likely weigh over bitcoin’s price. While Grayscale charges 1.5%, other asset managers like BlackRock charge 0.25%. GBTC, formerly a close-ended trust, is one of the largest bitcoin holders, with a coin stash of over $27 billion. GBTC shares began trading in 2013 and became redeemable on Jan. 11.
Source: https://www.coindesk.com/markets/2024/01/15/bitcoins-technicals-suggests-deeper-pullback-to-38k-analyst/?utm_medium=referral&utm_source=rss&utm_campaign=headlines