Robinhood CBO: Most GBTC sellers put funds into another Bitcoin spot ETF

Steve Quirk, Chief Brokerage Officer of Robinhood, stated in an interview that he observed the behavior of traders in the current Bitcoin spot ETF market, which includes:

· 1/3 of buyers selling equity to rebalance their investment portfolios

· 20% of purchases/sales occurring in retirement accounts

· Most GBTC sellers have invested their funds in other Bitcoin spot ETFs.