Are we finally seeing the beginning of the end for Grayscale's dominance of the way institutional buyers get exposure to Bitcoin??

Premium has collapsed due to lack of buyers in their primary market. So they've closed the fund, no doubt hoping to build up buy momentum by not allowing buys for a bit. Pretty bad when you are the market leader in the hottest investment in the world but you have to artificially try to inflate your premium/profits by closing the fund.

With other trusts and hedge funds opening up the past couple months, plus the Canadian ETFs just starting recently, I can see the high premium / high fee model of Grayscale starting to seem highly outdated to investors. Premiums and fees should in general shrink close to zero in a world in which there are more and more ways to get into Bitcoin. Not too surprising to see Grayscale market drying up as Wall St gets more and cheaper and more direct options to get into Bitcoin.

Only thing that sucks is that for the past few months we could get a good judgement of institutional buying just from looking at Grayscale, which is obviously not the case anymore.