💡🤔 theory..

a giant chunk of the current Grayscale #Bitcoin ETF (GBTC) sell off is basic tax loss harvesting / wash trading

people that bought into GBTC years ago when BTC was over $45,000 taking the loss now for their 2024 tax impairments

after the antiquated T+2 settlement (trade date + two days) of the funds, the seller can take that remaining capital and roll it into another ETF if they so choose.