@waltlyxegld@Justin_Bons@cybercapital Simple explanation. His fund gets paid performance fees over the btc benchmark. I.e with btc.d doing what it has done he has been completely destroyed
@Micro2Macr0@BTCMaxiDegen@dylanleclair The fee is calculated off the Nav , not off the market cap so they don’t care where the spread is (they do for their position but not for the fee calc)
@ramahluwalia@mikeroche BKR addressed the manipulation issue that was used by sec to reject applications by getting Nasdaq to witness flows.. might make a difference
@biancoresearch@randumb_comment The risk is in the front end . If we go past the summer the 5 yr will go back to 20. So if you calculate the mtm loss you ll see that there is no arb