Things You Don't See At The Bottom
Grayscale's crypto funds have been trading at sizeable discounts to NAV over the last two years. However, one fund is now flashing alarm signals.
I’ve admittedly covered the topic far more for Seeking Alpha, but one of the things that I’ve occasionally talked about here on Heretic Speculator is the NAV discount arbitrage in the Grayscale funds. TLDR for those who don’t know what I’m referencing:
Grayscale is the largest digital asset manager in the public equity markets
The company has securitized…
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