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The broader crypto market dip also resulted in a substantial $10 billion drop in crypto investments AUM .
Oluwapelumi Adejumo 2 min read 
The SEC has delayed Ethereum ETF applications again, lowering the expectations of a May approval even further.
Grayscale CEO Michael Sonnenshein said the firm anticipated the heavy outflows GBTC experienced since its launch.
The asset manager expanded its comments on market correlation as well as share creation and redemption.
BlackRock's IBIT now has $14.7 billion in assets under management, representing total holdings of 203,754 Bitcoin.
Observers opined that Grayscale's move would allow it to compete against rivals with competetive fees in the market.
Grayscale said that denial of options could unfairly discriminate against investors.
Bitcoin ETFs have acquired 300k BTC under management in less than 50 trading days.
The Privacy ETF's Index will allocate 10% of its funds to Privacy-Preserving Protocols via the Grayscale Zcash Trust (ZCSH)
