Feb. 22, 2022
It’s time to approve the Grayscale spot ETF. The Grayscale Bitcoin Trusts products of the world are pretty inefficient, they have no mechanism to tie back into the net-asset value, so they have these wild swings where it might trade at a 30% premium one day and a few months later have a 21% discount to net asset value. You don’t have the same problem with a spot ETF. It’s a simple instrument that offers fairly efficient access to the speculative nature of bitcoin prices. It’s a much better product for the public who want bitcoin exposure than the current future-based bitcoin ETF. Regards, Greg