February 21, 2022
If the futures based ETF products were approved last year, there is no real reason that a spot ETF product shouldn't be approved as well. GBTC holds the largest amount of bitcoin, and converting that to a spot ETF makes sense for the market, allowing it to trade more closely to the actual asset. As a holder of GBTC, I don't feel protected by the SEC until they allow GBTC to convert to a spot ETF.
Sincerely,
Dr. Craig Bruce Cowan II