Don't think I would participate but would be interested to hear your thoughts.
Aside: Now that Fidelity has submitted their application to SEC to ask for in-kind in/out into FBTC, I think that a lot of the deals (as well as lots of BTC Loan companies) are going to find it even harder to convince hodlers to participate.
Have you evaluated Strive merger yet?
Most interesting aspect is they allow Sec 351 in-kind purchase (you can buy in with bitcoin and get shares without selling).
http://striveb.ovis.tech/p/Strive_BTC_Alpha_Strategies_Deck-052725.pdf
Don't think I would participate but would be interested to hear your thoughts.
Aside: Now that Fidelity has submitted their application to SEC to ask for in-kind in/out into FBTC, I think that a lot of the deals (as well as lots of BTC Loan companies) are going to find it even harder to convince hodlers to participate.