May. 06, 2022
SEC, Please approve Grayscale to convert their GBTC Bitcoin trust into an ETF so that I can invest in Bitcoin at fair market value, safely secure assets through regulated crypto custody services, and benefit from lower management fees. As long as Bitcoin investments are trapped in the GBTC trust, U.S. investors are harmed by paying higher fees and historically lower value at sale vs market price. As more exchanges around the world offer Bitcoin ETF products, U.S. based Bitcoin investment options will continue to underperform, encouraging investors to consider foreign markets when possible. Existing futures ETFs such as BITO do not support my investment goals. Sincerely, Chris Tullier -- Chris Tullier