Following SEC approval for Bitcoin ETFs, Grayscale's CFO, Edward McGee, underscores the significance of robust risk management. The transition to an open-ended fund introduces variable fee structures denominated in Bitcoin, adding a layer of complexity. McGee anticipates an increased focus on evaluating counterparties' performance and fostering continuous communication to navigate the evolving landscape. Grayscale's strategic moves involve engaging market makers like Jane Street Capital and Virtu Financial, transforming them into new stakeholders with heightened responsibilities. Proactive risk management, monitoring product performance, and adapting to fluctuating asset inflows remain pivotal considerations for Grayscale in this dynamic environment.