The issue is most people viewed this investment as a loan where you put in X and if you get paid less than the value you paid then you are getting scammed. The problem however is that the closest classification of this fund is a growth ETF(I am not a professional investor so if I'm incorrect on something please feel free to let me know and correct me).  This is a fund that provides equity from several companies in the bitcoin sector. Unlike mutual funds which have a NAV 's calculated only daily based on changes from the trade value of each stock. Then the mutual fund can only be sold back after this calculation each day. As well the fund is required to buy back at this price at any time you wish to sell it.

An ETF or growth ETF in this instance trades just like a stock. Because the NAV is based on the market value at that time. As well you sell into the market so on a small market cap like this with very little buy orders compared to the number of units or to the sell pressure then your going down quick.

The NAV is how they calculated the initial value then tripled it. Now is that a good representation of the value of the fund? Absolutely not. Amateur investors being the majority of traders and after SF1 lost it's hype and people realized this was not paying dividend any time soon (they should have realized this at IPO) people got their attention pulled to something new. There is a new listing almost every few days offering better than believable results that gets their attention and the only capital they have is tied up and SF1 is the only thing in their portfolio not really being exciting instead is slowly dropping as buy demand drops.  So they sell which lowers and removes even more buyer demand as people still buying likely know it's long term but expect waiting will let the price drop either further.

At least that's my take and why I invested over time as price dropped. I won't be happy selling back at the given buy back price so I'm hoping I won't have any issues converting my shares.

Edit: Well this was in reply to AcoinL.L.C response however looks like that was deleted