Apr. 22, 2022
To SEC, I am writing because I feel I am not being protected as an investor. I purchased GBTC years ago after doing my due diligence on bitcoin, I was upset that I had to buy the fund at a premium to NAV due to the fact it was not an ETF, but I made the purchase anyway because I thought it was still a compelling investment. Now I am faced with a discount to NAV and although the price has gone up I have suffered significant losses of what I should have, due to the fund trading at a discount. I don't expect to get back the premium I lost due to the lack of ETF approval, but I can still recover the current discount if the SEC allows an ETF approval. I feel that despite good intentions, the SEC has been counterproductive when it comes to protecting inverters in this case. Specifically, by not letting this fund trade at NAV, for investors like me, this has led to significant loses of which some can be partly reversed. Please do the right thing for Americans and approve the ETF. Many Thanks, Kind Regards, Richard J. Leo