May. 10, 2022
I ask the SEC to approve a GBTC's conversion to a spot bitcoin ETF. The investing public deserves a spot bitcoin etf and grayscale has the experience to execute this in a safe way that will benefit so many people. Investors deserve the familiarity and protections of a Bitcoin ETF and should not be forced into a Futures-based product simply because it’s the only one that exists. The spot ETF would more efficiently track the price of Bitcoin, effectively eliminating premiums and discounts. There is no reason to reject a spot bitcoin ETF Grayscale would reduce management fees for GBTC and it would eliminate futures roll cost that hurt retail investors. Thank you, US Tax Paying Citizen