⚡️According to HODL15Capital data, the U.S. Bitcoin spot ETF has been online for 50 weeks, and BlackRock's IBIT has completely absorbed the selling pressure from Grayscale's GBTC——

At that time, after the launch of the BTC and ETH spot ETFs, the prices did not immediately soar, and many people felt that there was no hope for the market.

In fact, most people did not understand that this awkward period of favorable news but continued decline or fluctuation was inevitable. Because the process of absorbing selling pressure is——

1. Profit taking

2. Transitioning to low-fee platforms

3. Selling pressure being gradually consumed by inflows from other ETFs

Back then, there was immense worry about whether Genesis would directly liquidate GBTC if it couldn't fill the huge hole on its balance sheet, becoming a giant "gray" swan.

Now looking back, that was just a small ditch on the broad road; the course of history can be delayed or have twists and turns, but it cannot be changed or reversed. The light boat has already passed through ten thousand mountains!

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