>Regardless of whether it contributed to their decision to disallow redemptions, it's an undeniable fact that not having a redemption mechanism was very lucrative for Grayscale until 2021 because it allowed the premium to remain in place.
I don't understand that. It was trading at a premium. Why would anyone do a redemption if it's trading at a premium? I don't see how a lack of redemption ability would make it more likely to trade at a premium.
I don't understand that. It was trading at a premium. Why would anyone do a redemption if it's trading at a premium? I don't see how a lack of redemption ability would make it more likely to trade at a premium.