💥💥💥Good news? Whether the ETF can be passed next week, the biggest variable is how much selling pressure there is from "good news for shipment"! !
Previously, Grayscale's miniETF fee rate was 0.25%, but last night, at the last moment of the S-1 document correction, Grayscale suddenly made a move and reduced the fee rate to 0.15%. This operation is amazing! It seems that they have learned from the high fee rate of Bitcoin ETF and are planning to start a price war.
However, does Grayscale's low fee rate mean that they have no selling pressure? Actually not. This time, the fee rate is only reduced for Grayscale's newly applied miniETF, and their previous old holdings are still based on high fees. Therefore, after the ETF goes online, there may be a situation where Grayscale users sell their old shares first and then turn around to buy miniETFs, which is simply competing with themselves.
Now, whether the ETF can be passed next week, the biggest variable is how much selling pressure there is from "good news for shipment". Retail investors are eager to cash out as soon as they see good news. This cannot be stopped, but how many people do this depends on how consistent everyone's ideas are.