You can argue that dcg has to do what they do because they are sitting on 600k btc that are in limbo. I mean they did this themselves but gbtc is not competitive anymore and SEC is preventing them from adapting they are pushing dcg to do grey market stuff.

Besides it's not the SEC job to protect investors ETFs shouldn't be 100% safe because they literally cannot be. Risky ETFs should be allowed to exist. Thats the whole point of investing is you take on risk. I don't understand what the SEC is waiting for.