Unpopular opinion: GBTC getting converted to an ETF isn’t bullish, it’s bearish (at least short term). Huge outflows likely as one of the largest holders (if they weren’t lying about how much was locked up) and those that lost money in 3AC, FTX etc looking to sell whatever they had in the Trust to make something back.

I know so many lost so much in the last crash, but don’t be too quick to get it back that you lose sight of what happened and the potential for an ETF to be manipulated against us or turned into paper Bitcoin.