The premium to NAV seems to be stabilizing at ~10% lately, down from the craziness of 20-30%. But the big issue is that the Canadian ETF has been a big success so far I bet US envy will lead to a ETF this year. The SEC chief understands crypto and i dont think he's got any reason not to do it. Who will then want to hold this trust at 2% annual fees? The Canadian ETF has 1% fees and I bet the US one will have less, plus they track bitcoin perfectly which GBTC sometimes doesn't GBTC dumpfest later this year?