I am following GBTC daily as I added it to my retirement accounts recently. When I added 3 weeks ago, the premium was about $6 dollars above btc price ($46 GBTC vs $40k BTC price).

Today the price closed at $41.40 vs BTC price of $47k. This is a massive $6 deficit.

I too am curious at the reason for the sell pressure...is it just some taking profit in the secondary market? or are they preparing to move to new BTC instruments like ETFs.