Now the market values of $BMNR and $SBET have fallen below the market value of the Ethereum they hold, a negative premium has arrived.

Theoretically, this is similar to the negative premium from the Grayscale Trust back in the day, and it seems there is arbitrage potential, but the actual operation carries significant risks.

The company may be forced to recognize impairment losses and take a hit, leading to a double whammy for both coins and stocks...

Or is there anyone who can analyze whether $BMNR and $SBET have risks?🫡