The Wall Street Journal: GBTC is already an open-ended fund, which may affect its Bitcoin-denominated expenses on a variable basis

According to The Wall Street Journal, Grayscale's spot Bitcoin ETF had a trading volume of $2.3 billion on its first day of listing on the New York Stock Exchange. However, Ed McGee, the company's CFO, emphasized the need for increased risk management and communication with participants in an interview with The Wall Street Journal. He pointed out that Grayscale GBTC is currently an open-ended fund and that the amount of Bitcoin managed by Grayscale as a fund manager will increase. This will affect Grayscale's Bitcoin-denominated fees on a more variable basis. Currently, Grayscale is adopting new risk management models and the fund's risk management is in a relatively stable state. Now, with more Bitcoin potentially entering or exiting the fund, a new variable has been added to managing volatile assets for Grayscale.