Feb. 22, 2022
Please approve gbtc application and allow for GBTC TO CONVERT TO SEC approved ETF. A spot ETF will provide for a safer alternative to current digital currency investment vehicle. An approved Spot ETF which is closely aligned to track the underlying digital asset bitcoin has many advantages for American investors. a) its safer to hold an ETF without fear of losing cryptographic keys and thus access to bitcoin for those directly invested b) there is a significant discount for GBTC holders due to differentials in BTC NAV - this hurts American investors and provides unfair access cryptocurrency investing to accredited investors c) a spot bitcoin ETF is much safer than the existing and recently SEC approved bitcoin future ETF currently trading d) with out a Spot bitcoin ETF, there is tremendous risk that American investors will seek out riskier, more unpredictable and even fraudulent investment schemes. Everyday, more and more Americans are seeking opportunities to participate in the coming 4th industrial revolution ( blockchain investment ). Excluding a spot bitcoin ETF will expand current wealth gaps in the U.S.