May. 06, 2022
RE: I support converting GBTC into an ETF I have held GBTC in my IRA since I bought it at $4.31 a little over four years ago. At the time, it was the only way to get exposure to Bitcoin in my Fidelity IRA, and it represented only a small fraction of my total holdings. At the time I bought it, GBTC traded at a premium to Bitcoin, and while Bitcoin has been volatile, GBTC has been more so, now trading at a substantial discount. I don't mind the volatility, but I strongly support converting GBTC to an ETF with the hope that it will track the price of the underlying Bitcoin more accurately. Gordon Foreman