Well the biggest issue is that GrayScale hasn't really made a move to clarify their situation. The assets might be back by BTC but if you can't convert back and have little control on when you can get out, people will get fustrated. All those early entrants sold out while the other people are waiting to get out while the profit is high.
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Yeah as the article mentioned, this is exclusive to Grayscale. They have to make some adjustments if they want to remain in the game.
The introduction/approval of an ETF by the SEC would really making things tough for them unless they alter how they are structured.
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