Opinion: Grayscale's ETH holdings have been more stable than BTC, with significantly lower selling pressure.

According to an article published on the X platform by crypto data analyst CyrilXBT, Grayscale's BTC holdings have been declining since the ETF was approved due to outflows from GBTC, indicating that investors are taking profits or rebalancing their portfolios, causing BTC prices to fluctuate under supply pressure. In contrast, Grayscale's ETH holdings have been more stable in recent weeks, with significantly less selling pressure than BTC. This suggests stronger market confidence in ETH, possibly driven by expectations of an ETH ETF, staking yields, and lower urgency to sell. Currently, BTC is in a distribution and rotation phase, while ETH is in a patient waiting and positioning phase. Grayscale is viewing ETH as the next asymmetric game opportunity while BTC digests selling pressure.