💡🤔 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.
matta / MattA
npub13l…chmy5
2024-01-20 16:34:43
Author Public Key
npub13ldzrxwy8x066ll5zf45qtcltms40ld7fsy4rejdlcc64my80lcslchmy5Published at
2024-01-20 16:34:43Event JSON
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"content": "💡🤔 theory..\n\na giant chunk of the current Grayscale #Bitcoin ETF (GBTC) sell off is basic tax loss harvesting / wash trading \n\npeople that bought into GBTC years ago when BTC was over $45,000 taking the loss now for their 2024 tax impairments \n\nafter 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.",
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