3 ms·

I'm not familiar with what happened at 3AC but it sounds like there was leverage involved. The arb opportunity i'm talking about is something that exists with a

by lucw 3y ago

I'm not familiar with what happened at 3AC but it sounds like there was leverage involved. The arb opportunity i'm talking about is something that exists with all ETFs and keeps them in line with the underlying asset.

LikesPwsh 3y ago
3AC was doing the same arb on GBTC (with an extended lock-in before redemption), but GBTC had no mechanism for selling BTC once their premium reversed.