Feb. 22, 2022
Please consider approving the GBTC application to convert from a Trust to a spot priced Bitcoin ETF for the following reasons: - Understanding Trust fund premium/discount is difficult for individual investors. - An array of international spot ETFs are already trading, institutions can invest, harder for retail. - Institutions have made off like bandits exploiting retail investors with trust premiums in the past, protect them! - Future based ETFs are better, but there are still spreads that institutional investors exploit to pocket low risk profits off market conditions. Can you please explain how spot ETFs are more risky than futures based? If there are concerns with manipulation of spot, how are futures not exposed to manipulation squared given their own trading spreads premiums? Thank you for your time, Chris Carr