Feb. 22, 2022
Dear Sir: I am writing you regarding your impending decision to allow or not GBTC to convert to an ETF. I am strongly advocating that you allow GBTC to convert to an ETF for the following reasons. 1. For a retail investor, an ETF is a much safer and more fair investment vehicle for bitcoin. 2. The demand is obviously there, other countries already have a bitcoin ETF, what are we waiting for? 3. Additional regulation of crypto has start somewhere, so let's at least start with a bitcoin ETF, maybe even an ethereum ETF too. 4. Crypto is not going away. Crypto exchanges are popping up everywhere. US market regulation has to have a role and it needs to be soon. Who else is going to protect the retail investor. 5. Lastly, delaying your decision, is also counter productive. It causes additional market volatility which hurt small retail investors. In closing, retail investors historically have been 'beat out' of large investing opportunities by larger investors and institutions. ETF's give them a chance to participate in investments that they traditionally can't. Also retail investors are getting smarter about the market and crypto. Why prevent them or make it harder to participate in a new investment opportunity that they obviously want to invest? Thank you for your consideration, Scott Bechler