May. 06, 2022
Gentlemen, As a GBTC shareholder, I support of the conversion of Grayscale Bitcoin Trust (OTCQX: GBTC) to an ETF. Allowing this conversion will help to assure fair market pricing of BTC and help protect the consumer. You've already approved futures-backed Bitcoin ETFs, but continue to reject applications for spot Bitcoin ETFs. We investors should be able to choose if we’d like direct or futures-based exposure to that asset. The discount to NAV in GBTC has been around 25% on average, this year. This can be corrected by your action to approve a BTC ETF. Sincerely, Ted A Tobey Las Vegas, Nevada