With a bid of $31.50 as compared to the closing yesterday of $23.70 we should sell short (effectively covered) and then close the short position as quickly as possible when BIT shares are transferred into the ETF. Free money.
A little out of the loop in the whole small cap world.. Will most brokers allow you to sell short? Don't they have to actually have shares available to borrow? IE: no naked shenanigans ?