Sell the news Grayscale edition

If you payed attention to the grayscale vs sec battle at all you’re probably still scarred from any trades you made around GBTC. It all felt very binary at the time, either Grayscale wins the lawsuit and GBTC rally’s or they lose and GBTC tanks. There was real logic to that because if they won the lawsuits GBTC would sense to trade in the OTC markets and would be listed on the NYSE. In reality nobody expected Grayscale to sue the SEC and win so this was a high risk high reward type of trade. One that I myself entered.. It felt like a crazy trade sure but over the years I’ve started to believe that the least likely scenario in the market is the one that usually plays out.. In my head that was Grayscale beating the SEC. So I took a risk, and I ended up right. Grayscale wins and it’s announced that GBTC will be listed on the NYSE!!! Woohoo right… Not exactly… What I didn’t expect as that all of this good news was essentially meaningless in the short term. Here