Feb. 23, 2022
As a shareholder in GBTC, I am very much in favor of having it converted to an ETF. The ability to invest in bitcoin without having to have a bitcoin wallet or go thru a bitcoin exchange is a convenient way to gain exposure to the advantages of bitcoin without the risk of wallets etc. However, to be a real surrogate for bitcoin it needs to timely reflect to asset price of bitcoin. And like GLD or SLV ETF’s it must be convertible into the underlying asset, ie bitcoin. Bitcoin has many advantages which support the digital commerce system, which is the wave of the future. Converting GBTC to an ETF would benefit investors, make the bitcoin market more transparent and increase liquidity. It will further open the bitcoin market to a wider range of investors. Grayscale is a respected sponsor of crypto related asset funds and is well equipped to manage GBTC as an ETF.