Subject: SR-NYSEArca-2021-90
From: Roger Kerzner
Affiliation:

Feb. 19, 2022

Can you both please submit a few thoughts on why gbtc should be an etf.

The key points are that:

The approved futures based etfs are very expensive in terms of long term fees and this very unfriendly to retail investors.

BTC is already available as a ETF in other countries

BTC is widely traded already, but the lack of ab etf makes this type of property hard to access for retail investors using normal brokerage accounts and thus today are disadvantaged and have to use GBTC or the poorly constructed futures etfs.

Roger Kerzner