A warning, a lesson, and a call for change. Please share this thread if it resonates with you. #Bitcoin #Ethereum #Fintwit #fintech cc @Onrampinvest

1/ @Grayscale is an amazing company offering access to a secure and simple way for accredited investors to gain access to cryptocurrencies and other digital assets without having to worry about custody, etc.

2/ Conveniently, their products after ~ 1 year trade freely on the OTCBB through a traditional stock brokerage account. You may have heard of them, products like $GBTC, $ETHE, et al. These products are not redeemable for NAV, so the price is based on supply and demand.

3/ Generally they trade at significant premiums to NAV because the public market investors prefer to buy something with the convenience of their brokerage account.

4/ Sometimes they are encouraged to buy these products by their financial advisor acting as a fiduciary, who has no other way to offer their clients exposure to cryptocurrency. Advisors are caught between a rock and a hard place. Top holders of $GBTC

5/ The advisor dilemma: They either tell their client not to invest in this new and novel asset class that has outperformed nearly every other asset class on the planet, or they encourage them to gain a "dirty" exposure trading at huge premiums because it is the only option.

6/ Many investment firms have tried to gain approval from the SEC to launch an ETF around bitcoin however, unfortunately, the SEC has been slow to react. An ETF would solve many of the "premium/discount" issues facing most investors. BUT...

7/ An ETF is NOT the answer, it is AN answer. THE answer would be to empower investors and advisors to invest in bitcoin and other digital assets directly to see for themselves the beauty and magic of Digital Assets outside the prison cell of a fund wrapper.

8/ @Onrampinvest @TR401 and all of the team @Onrampinvest are working hard to make this dream a reality. If you are a financial advisor tired of waiting for a #bitcoin or #ethereum ETF Sign up at http://onrampinvest.com  to get early access.

9/ If you are a VC or strategic and want to understand more about the vision, strategy, and opportunity, DM either @TR401 or me @eervin1

10/ If you are interested in working and or being part of the team, email [email protected]