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Robinhood Chief Brokerage Officer: Most GBTC sellers are transferring funds into another Bitcoin spot ETF

2024-01-13 10:26:48

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ChainCatcher news, Robinhood's Chief Brokerage Officer Steve Quirk mentioned that when discussing user behavior regarding the spot BTC ETF, 1/3 of buyers sell their shares to rebalance their portfolios; 20% of purchases/sales occur within retirement accounts; most GBTC sellers transfer their funds into another Bitcoin spot ETF.

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Robinhood GBTC Bitcoin Spot ETF

New Developments on Bitcoin ETF

New Developments on Bitcoin ETF

Despite mixed and contradictory news regarding the approval process of BlackRock's Bitcoin spot ETF, the market has entered a new round of frenzy as Bitcoin briefly surpassed the $35,000 mark. Will there be further reversals? What other news should be noted?

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