Feb. 22, 2022
As retail investors, GBTC is the easiest way to get a Bitcoin exposure. It is clear the discount to the NAV is hurting us greatly. This would be fixed by a spot ETF, A product that is available to retail investors in other countries. Authorizing a futures ETF and not a spot one is a great disservice to retail investors. Retail investors want a direct exposure to BTC and this lack of approval forces us to exchanges that aren't always secure or paying high fees (that would be lower were the change to spot ETF be approved). I am a retail shareholder that has been waiting years to invest in a spot Bitcoin ETF. It is just a matter of time and adoption has been rising greatly — Grayscale is a great steward of capital and I would much rather purchase the spot ETF versus having to buy bitcoin directly from an exchange. It is much safer for many investors to be able to buy the spot ETF and not have to deal with the head ache of custodying the underlying bitcoin via some sort of cold wallet. We repeat. This is hurting investors. From Jason Shi Based in California