MGF.ax is only a small portion of overall FUM for them.
Company Image > FUM over the longer term, and it looks very bad to have a large LIT trading at a ~22% discount. I think the new CEO appreciates this.
As the CEO says in that video, performance is what is going to close the discount. If a significant discount remains once options expire, they will definitely convert to an open ETF.
MGF Price at posting:
$1.36 Sentiment: Buy Disclosure: Held