Robinhood CBO: Most GBTC sellers have invested their funds into another Bitcoin spot ETF
In an interview, Robinhood's chief brokerage officer Steve Quirk observed that the behavior of traders in the current Bitcoin spot ETF market includes: · 1/3 of buyers sell their shares to rebalance their portfolios · 20% of purchases/sales occur in retirement accounts · Most GBTC sellers have invested their funds into other Bitcoin spot ETFs.
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