Shares of GBTF are not selling well, which is something to be expected, considering the scale of the recent FTX collapse and its effect on the market.
Many institutionalized investors will try to abstain from trusting any intermediaries and will move their funds directly to a Bitcoin wallet and focus on working with a variety of decentralized exchanges.
Uniswap and GMX saw massive numbers of people working on the platform during the last week. Notably, Binance reported that many BTC holders decided to move their assets off the platform.
GBTF may face a difficult period ahead
While it is nice to have trust funds that focus on BTC and other cryptocurrencies, these financial instruments are removed from issues that the crypto industry wants to solve.
On top of that, these companies are trying to invest in a market and lure in people who do not do their due diligence and research the crypto domain.
The result is an immediate loss of trust to trust as soon as a loud scandal occurs. Digital Currency Group (DGC) is another trust fund working with crypto.
Multiple circulating rumors are indicating that DGC will be filing for bankruptcy in the nearest future, making it hard to believe that a 50% off deal from GBTF is a sound investment decision.
The dissolution of the biggest Bitcoin trust fund is something that should happen to ensure that the whole industry receives fair treatment from the US government.
The FTX scandal will surely heat up the discussion around digital assets and force the SEC and CDC to roll out regulations as quickly as possible, which will ultimately benefit common investors.
Investing in intermediaries is not the best course of action
The current market offers plenty of opportunities to enter the crypto industry and buy coins at a cheap price. While Bitcoin may not be something that small-time investors are eyeing at the moment, many other tokens are up for grabs.
However, you should do it on your own instead of trusting middlemen like GBTF and DGC.
