In an institutional bear market, a Bitcoin ETF redemption is almost aggressively boring. An investor sells shares, an authorized participant returns a large block to the trust, and the fund either pays cash or transfers BTC. Its assets shrink while the shares keep trading near net asset value a...
Source: [CryptoSlate](https://cryptoslate.com/bitcoins-first-institutional-bear-market-is-starting-to-take-shape-and-draining-liquidity/)