Anyone else hear about that? I wonder do they fear that the market could fall even further?
Yes i did. Let me put it this way. Not only bitcoin is being hold in the ETF they have various assets like the MSTR which has significant potential as Bitcoin. What actually happens is that money were gradually s
In practice what actually happens is money moves gradually as people decide to swap from pure BTC to ETF holdings. They probably had an opportunity to close the short at a small profit, but wanted more, and waited too long. Eventually more money moved into ETFs that was never in pure BTC in the first place, MSTR went up as a result, and they got rekt.