[mhoad]

It’s not going to be fully backed. I think that’s become increasingly clear at this point.

[smoovb]

Let's say it's 70% or even 50% backed. The withdrawals so far are are about 10% of its holdings. Won't we have to wait for another 40-60% draw down to find out if it's not fully backed? Seems like so far, anyone who wanted out, got out.

[aaaaaaaaata]

...what if it's 20-30%?

[smoovb]

Then time for a class action against the NYAG office for not disclosing this to the public.