GBTC market sale at $175 sets new ATH at $1750 / BTC

[minerpumpkin]

Owning shares in an ETF is not the same as owning real bitcoin. Don't be mislead by prices quoted for these paper instruments.

But the underlying asset is still BTC, and the operators of the ETF are holding real BTC, so these BTC exist and they are "off the market" and thus push down the supply, just like they would if they were bough on any other regular Bitcoin exchange!