Feb. 08, 2022
Hello, I am a retail investor who has been participating in securities markets since 2006. The approval of a Bitcoin spot price ETF is extremely important to protecting the investments of the retail investing class. Spot exchanges can be difficult to access and are not trusted in the way that a trading vehicle that mirrors the spot price (accessible on any brokerage platform) would be. Many retail investors are already invested in GBTC, and have accepted the discount/ premium fluctuations as an acceptable consequence in order to be able to hold a security tied to Bitcoin inside of an IRA account. Because its currently an OTC product it also tends to be subject to trading transaction fees that most exchanges have completely done away with for securities offered on NYSE and/ or NASDAQ. The approval of GBTC to a spot ETF fixes these issues. I'm asking for formal approval of such a vehicle to help protect the millions of retail investors who are already no doubt invested in this or other similar vehicles. Thank you, Todd Woodside