Moreover, he questioned Grayscale’s absence of an unbiased director on its board and expressed issues relating to the perceived excessive 2% price primarily based on Bitcoin. The Congressman urged the monetary regulatory physique to offer responses to those queries by Could 15, in search of clarification on these issues.
Brad Sherman believes that “Grayscale’s actions with respect to GBTC are motivated by a need to extend property below administration, no matter its impression on GBTC buyers.” The lawmaker believes Grayscale is avoiding enabling redemptions to keep away from lowering its 2% administration charges, which helped the agency rake in $615 million in 2021. Congressman Sherman additionally known as into query the involvement of Grayscale’s dad or mum agency Digital Forex Group (DCG), within the alleged manipulation of GBTC’s low cost.
