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28 July 2021

JPMorgan says Bitcoin may dump to $25,000, cites Grayscale’s GBTC unlocks

JPMorgan says Bitcoin may dump to $25,000, cites Grayscale’s GBTC unlocks


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These are publicly traded financial instruments that hold a small amount ofspotcrypto, such as Bitcoin or Ethereum, in a custodial account for each share they offer on the open market.

Products like Grayscale Bitcoin Trust (GBTC) are henceone of the onlyways for regulated investors in the US to gain exposure to the crypto market.

And it’s no small amount either: The GBTC, as the below tweet shows, holds over $21 billion of Bitcoin as of today.

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