According to the Wall Street Journal, Grayscale Investments' spot Bitcoin ETF had a trading volume of $2.3 billion on its first day of listing on the New York Stock Exchange after it was approved. However, the company's chief financial officer Ed McGee said in an interview with the Wall Street Journal that more attention must be paid to risk management and communication with participants. He pointed out that Grayscale GBTC is now an open-end fund, and the amount of Bitcoin that Grayscale is exposed to as a fund manager will also increase, which will affect Grayscale's Bitcoin-denominated fees on a more variable basis. Grayscale is currently accepting a new risk management model, and the fund's risk management is currently in a fairly stable state. Now, as more Bitcoin may enter or flow out of the fund, Grayscale has added a new variable on top of managing volatile assets.