Mar. 03, 2022
Dear SEC, Please approve the GBTC Spot ETF Conversion. The carrying cost due to arbitrage on the Futures ETF is too great a cost for small investors to bear. As you know, Bitcoin is a volatile asset. Without effective, low-cost hedging strategies (options on a spot ETF), you're denying long-only individual investors who wish to easily own bitcoin in their retirement account any tools to manage volatility in a cost-efficient manner. Best, Connor Dunham United States Citizen