IMO, delay of options trading approval put Grayscale at meaningful disadvantage to retain GBTC's initial liquidity leadership...
Had options been approved asap after spot btc ETFs launched in January, would have helped GBTC stave off IBIT encroaching on trading volume.
From X
Disclaimer: The above content reflects only the author's opinion and does not represent any stance of CoinNX, nor does it constitute any investment advice related to CoinNX.