Do you hold your bitcoin or sell it to those Bitcoin Spot ETFs?
I have no intention to sell my Bitcoin to anybody or any firm until I get to my projected profit margins. Bitcoin is a life long investment so I am very careful of how I dispose regardless of the profit. Selling might be easy but one might not have the funds to refill our wallets because the price might skyrocket in the future. So we should always look beyond the offers by these ETF operators.
If the FTX/Grayscale selling is basically over, and the sell-the-news market participants are done, both likely to be true at this point I think, then the ongoing large accumulating of bitcoin from the ETFs is going to start shocking the supply soon.
The withdrawal from Grayscale is not sell orders this means it is not that people are selling Bitcoin for fiat. It is just a transfer of ownership from FTX/Grayscale to BlackRock. Within a few months, we might start seeing the impact of the accumulation by these ETF providers on the price of Bitcoin.