Let me know if I’m wrong here, haven’t thought too deeply about this. It seems like Grayscale fucked up. They had one of the few regulated Bitcoin derivatives on the market. By pushing for an ETF conversion they allowed a bunch of large competitors into the market. I get that ETF’s were inevitable and it’s good for Bitcoin adoption. But it seems like they had a pretty sweet deal being one of the only games in town with little competition. Agree or disagree?

#bitcoin #grayscale #etf