The way I see it is they aren't really that interested in the crypto industry in the first place but they saw that some other companies took the opportunity way ahead of them that is why they shifted their heads on the competition. Companies like Grayscale, CoinShares, and BlockFi are all centered in the investment side of cryptocurrencies and I think it bothers them that they aren't part of it and this is also a threat for them as some of their high risk-tolerant clients might be shifting their money away from their company which may have probably begun that is why they are taking actions now. Huge loss for them not pioneering the crypto industry in terms of investment but it is good news for us that they are also here to take part of.
Yes. That is an effect which has become peculiar to the Investment Industry.
It is of course related to Index/Sector tracking funds: Once competitor funds start generating higher returns from a sector, there is pressure on their competition to acquire a weighting. Not just because they expect profits, but also because they need to fall in line with their immediate competitors (in this case the more maverick funds) so as not to attract criticism in case they miss something important.