May. 06, 2022
Hello SEC I'm writing to you today to submit a comment in support of a GBTC conversion to an ETF. As an investor and supporter of Bitcoin, I am committed to having this as part of my portfolio. Currently, Fidelity and similar brokers limit or restrict access to Bitcoin directly for some or all account types. Thus, I've had to purchase the GBTC option to have exposure since I did not want to rely on Coinbase or other 'risky' exchanges. However, investing in GBTC has exposed my portfolio to the premium / decay effect and it is important for me to maintain a direct relationship with the actual price of Bitcoin. I feel that Grayscale has demonstrated its responsibility to investors with the GBTC trust and earned the right to a conversion to an ETF with the proper assessment by the SEC. Thank you for your consideration. Keith Ferry