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NEW YORK – The Grayscale Trust ETF transferred $41 million in bitcoin to an exchange yesterday, as the cryptocurrency’s price fell. The exchange-traded fund (ETF) fund move comes as bitcoin’s value fell to $42,719.
The transfer has raised questions about its potential influence on Grayscale’s Bitcoin Trust (GBTC) redemptions.
Grayscale did not comment on the transfer or its timing in relation to the fall in bitcoin’s price. However, the correlation between the transfer and the fall in bitcoin’s price has become a topic of discussion among market participants, who are monitoring the situation to assess the ETF’s strategy and possible effects on bitcoin’s liquidity and stability. of the market.
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