The January Grayscale #BTC fund will be unlocked this month (starting from July 13), and it is expected to unlock GBTC stocks worth 41.8k #BTC. The largest single-day unlocking day will occur on July 18, with a value of 16.2k #BTC
So, those Bitcoins are gonna get dumped on the market, right?
No.
People who say that those coins will be dumped don't actually know how the GBTC Trust actually works:
Grayscale is a unique product. It's designed as a black hole that sucks in #BTC
Grayscale allows accredited investors to add #BTC into the trusts holdings in return for receiving shares in the trust
NO #BTC EVER LEAVES THE TRUST, apart from Grayscale taking its 2% management fees from the holdings, this is the only way to reduce the GBTC inventory
The upcoming GBTC unlock I am referring to are these shares unlocking and being available to be sold for cash
No spot #BTC being released to market
