Good morning.
I find it ironic that Grayscale is the reason the Bitcoin ETFs were approved, refuse to lower their commission fees, and are seeing outflows from their fund that put negative price pressure on BTC because of it.
And they STILL owe a Billion dollars to investors.
GM 🌞🫂☕️🤘🤙
My guess is they borrowed a ton of money against the cash flows of the fund, and changing the management fee would immediately put it in default, and the loan would get called. They must have decided that their pain from investors leaving was less than their loan being called. Just a continuation of the fraud, and a delaying of the inevitable. Tick tock.
It is pretty impressive that they can be barfing so much bitcoin onto the market, and the price is just crabbing.
