Grayscale's Bitcoin holdings have been decreasing due to selling pressure and investor profit-taking following ETF approval, causing price fluctuations. In contrast, their Ethereum holdings remain stable with much lower selling pressure, reflecting stronger market confidence possibly fueled by anticipation of an ETH ETF and staking incentives. The market sees Bitcoin undergoing distribution and rotation, while Ethereum is in a patient accumulation phase, positioning it as a promising asymmetric opportunity.

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