Since the approval, Grayscale is using spot BTC ETF for its outflows, changed status and influence.

Large Outflow 

     It was anticipated that spot BTC ETFs would see massive inflows, but Grayscale is acting in the opposite way.  Currently only around 10% of Grayscale's Bitcoin treasury has been outflowed, the company still contains roughly 552k $BTC, has been sold. Grayscale still has a sizable reserve to dump if it continues to do so.

Outflow following demotivated inflow

     Given that the substantial outflow is unappealing and the high costs of 1.5% have already curbed the inflow. This raises the topic of possible implications for Grayscale. This might require employing a whale approach from the past, which is selling off market reserves first and then buying them back at a reduced price.

GBTC liquidation and BTC value

     Analysts are in disagreement regarding their assessments. Some experts predict that the price of Bitcoin will either stay or fall until the liquidation of $25 billion in GBTC. Conversely, some analysts predict that the majority of those selling GBTC may switch to other ETFs and that the price of Bitcoin will peak in six months.