It doesn't get released, unless you are doing manual memory management inside an unsafe package.
In a safe package it can only point to existing data, there isn't anything to release.
If the pointee is something that lives on the heap, it is similar to weak references. Points to GC data, but doesn't count as yet another GC root.
If the pointee is on the stack or global memory (data segment in C), then there is also nothing to release. Global memory only goes away when program dies, stack gets released on return. Memory that was allocated by the compiler due to VAR declarations, it is static.
Usually the idea is that you use untraced pointer to navigate statically allocated data structures, they are not to be exposed across modules.
