"JPMorgan Warns of $1.5B Potential GBTC Sales as Grayscale CEO Defends Bitcoin ETF Fees"
TL;DR Summary
JPMorgan analysts predict that Grayscale's GBTC could see an additional $1.5 billion in sales as traders exit the space following the ETF conversion, putting pressure on bitcoin prices. The bank warns that if GBTC loses its liquidity advantage, an additional $5 billion-$10 billion could exit the fund. Meanwhile, other spot bitcoin ETFs have attracted $3 billion in inflows in just four days, reflecting a rotation from existing bitcoin vehicles such as futures-based ETFs.
- Bitcoin Exposed to Possible $1.5B in Future GBTC Sales, JPMorgan Says CoinDesk
- Grayscale CEO says most of the 11 approved bitcoin ETFs won't survive, defends highest fees in industry CNBC
- How Bitcoin is Helping the Biggest Firm on Wall Street Dion Rabouin | WSJ
- Gary Gensler approved the ETFs — but now he's striking back Cointelegraph
- Grayscale CEO Says Education Is the Focus After ETF Approval; What a MetaMask Secret Project Means for Ethereum CoinDesk
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