Feb. 27, 2022
I’m writing to oppose the conversion of GBTC to an ETF. In the dozen+ years of cryptocurrency existence, it has found no productive niche in the world economy. It’s not a useful store of value. It’s not a medium of exchange. It’s pure speculation and gambling. Perhaps its one functional use is to enable monetization of cybercrime. Creating this ETF would be one more step away from what should be finance’s actual role in the economy: efficient capital allocation for the real economy. This would encourage more speculation and gambling. Regards, John Maline Dallas, TX