Apr. 22, 2022
I strongly urge the SEC to approve the conversion of GBTC to an ETF. This will lower the Grayscale management fees, while also stabilizing the value to the spot price of Bitcoin, and avoiding the previous wide premiums and discounts. The result will be many more investors coming into the fund, boosting the price and overall trading activity. This will obviously result in much greater tax revenue collected by the government from these activities. The world is rapidly changing, and its time that the SEC changes with it, or risk losing all credibility as an institution that is supposed to be serving the collective public interest. Converting GBTC to an ETF is clearly in the public interest. This is a win-win solution for both investors and the SEC/government. Thanks for your time, Steve