May. 06, 2022
I am a private investor in GBTC and write to express my interest in seeing this investment converted into an ETF as requested of the SEC by GBTC. Presently there delay or lag which causes a disconnect between the Trust and how it tracks the price of Bitcoin which causes discounts and premiums in trading that would be eliminated if it were converted to ETF. When converted those already invested in GBTC (like me) and those seeking to trade the ETF on the NYSE Arca will benefit from a more transparent and efficient ETF that actually tracks the price of Bitcoin in real time. This conversion would allow me as an investor a notable basket of tangible benefits that would permit an easier alternative to purchasing actual Bitcoin which is much less secure and overly complicated for the average private investor, like me. I urge the SEC to approve this request and allow GBTC to be converted to an ETF and uplisted from OTCQX to the NYSE Arca. Thank-you. Steven M. Ruffalo / Attorney