May. 06, 2022
Mr Gensler: I am in favor of the SEC allowing ETF status for GBTC for the following reasons. GBTC trades at a premium with a significant up-front cost. This up-front cost is generally unimportant for long term investments, but over time GBTC could have plenty more competitors than it does now. Secondly, because the GBTC doesn’t track the price of Bitcoin directly, it can take a while for price fluctuations in BTC to be reflected in the price of the GBTC I find it amusing that you favor investor protections and understand BTC to the degree that you do but still fail to find ways to open the public up to opportunities that allow even small exposure to BTC. Enough with this vacillation and approve the first spot BTC ETF for GBTC using the same1933 Act which was recently used as justification for Teucrium’s bitcoin futures ETF. Sincerely, Philip Ocampo