Anyone following the court case between Grayscale and SEC? It's so ridiculous to me that we have to go to court over this charade. Having a spot ETF would've protected investors from FTX, Celcius, and these so called stable coins which we're learning might actually not be so stable with this SVB fiasco. If you ask me, these recent events further strengthen the case for Grayscale to have their spot ETF approved. It doesn't appear to me SEC has a leg to stand on, and furthermore, I don't know why they're fighting this battle at all.. Am I the stupid one? GBTC at ~35% discount to NAV and ETHE at 52% last I checked.
GBTC is trading at a 35% discount to NAV not only because they are not full ETF, but also because they refuse to provide an audit proving that they have the number of Bitcoins that they claim to have: https://www.cnbc.com/2022/11/21/grayscale-wont-share-proof-of-reserves-due-to-security-concerns.html
maybe just do a little more digging. https://cryptoslate.com/greyscale-holds-635k-btc-as-coinbase-custody-reveals-holdings/ and before going off on some tangent about how they're probably corrupt like all the other crypto platforms, know that they have whopping 2% management fee on over $16B AUM, meaning they bring in >$300m/year just from that. They are far from the FTX/Celcius/Binance's of the world that need to promote some pyramid scheme to stay afloat.