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The Gray Scalar Trust and GPTC
The Gray Scalar trust is a toxic product that have not been good for the investors, the industry. The SEC has claimed that they've rejected all these previous Bitcoin spot products because they don't have market surveillance agreements. It was always a little bit of a red herring given that Bitcoin is such a massively traded product everywhere in the world. There's no super-cost rolling over to any US exchange and it's just a big pile of Bitcoin that you can hold on your account.