May. 06, 2022
I have owned some Greyscale Bitcoin Trust (GBTC) since 2020 and in both my regular brokerage account as well as my IRA. I also bought some GBTC for my grandchildren under a custodial account I have for each of them. I am aware that GBTC trades at a significant discount to NAV and they are trying to convert to an EFT to correct that anomaly. I understand in 2021 you approved several futures-based Bitcoin EFTs. It seems to me that if those are permitted, spot-based Bitcoin EFTs should also be allowed. The SEC should approve the GBTC and other spot-based Bitcoin products to create a level playing field with futures-based Bitcoin EFTs and allow investors to choose whether to buy futures-based Bitcoin EFTs and/or spot-based Bitcoin EFTs as they deem appropriate for their portfolios. Thank you, Robert S. Scott, Jr. Pittsburgh, PA