[Analysis Suggests Grayscale's ETH Holdings Are More Stable Than BTC]
Crypto data analyst CyrilXBT stated on the X platform that Grayscale's BTC holdings have been continuously decreasing due to GBTC fund outflows following the approval of the ETF. This has led to profit-taking or portfolio rebalancing by investors, causing BTC price fluctuations. In contrast, Grayscale's ETH holdings have shown stability in recent weeks, with selling pressure lower than that of BTC. This may be related to expectations for an ETH ETF, staking yields, and less urgency to sell. Currently, BTC is in a phase of distribution and rotation, while ETH is in a phase of patient waiting and positioning. During BTC's period of absorbing selling pressure, Grayscale views ETH as a potential opportunity.