May. 06, 2022
GBTC should be converted into an ETF. There is no good reason why the SEC hasn't approved a bitcoin ETF at this time, especially considering that several bitcoin futures ETFs have already been approved. Converting GBTC to an ETF would allow it to more effectively track the price of bitcoin, reducing management fees for investors, as well as removing arbitrage opportunities currently available that make the market less stable. Bitcoin ETFs have been approved in other countries, and investors will just move their money out of the country to take advantage of those funds.