Grayscale Bitcoin Trust Could See $2.7B of Outflows if ETF Conversion Is Approved: JPMorgan

“If this $2.7b exits utterly the bitcoin house then such an outflow would in fact put extreme downward stress on bitcoin costs,” the authors wrote. “If as a substitute most of this $2.7b shift into different bitcoin devices such because the newly created spot bitcoin ETFs submit SEC approval, which is our greatest guess, then any unfavorable market affect could be extra modest.”